House
File
2489
-
Enrolled
House
File
2489
AN
ACT
RELATING
TO
THE
AUDITOR
OF
STATE
AND
INCLUDING
EFFECTIVE
DATE
AND
APPLICABILITY
PROVISIONS.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
NEW
SECTION
.
11.31A
Auditor
of
state
——
divisions.
1.
The
auditor
of
state
shall
adopt
rules
establishing
divisions
within
the
office
of
auditor
of
state.
For
each
division
within
the
office
of
auditor
of
state
that
is
responsible
for
performing
attest
services
as
described
in
section
542.3,
the
auditor
of
state
shall
appoint
a
deputy
auditor
of
state
that
is
a
certified
public
accountant
to
lead
that
division.
2.
If
the
auditor
of
state
is
not
a
certified
public
accountant
licensed
pursuant
to
chapter
542,
the
auditor
of
state
shall
not
sign
an
attest
report
issued
by
the
office
of
auditor
of
state,
but
shall
defer
to
the
appropriate
deputy
House
File
2489,
p.
2
auditor
of
state
who
meets
the
experience
or
competency
requirements
set
out
in
nationally
recognized
professional
standards
for
such
services.
3.
The
auditor
of
state
shall
comply
with
all
applicable
rules
of
professional
conduct
adopted
by
the
Iowa
accountancy
examining
board
pursuant
to
section
542.4.
Sec.
2.
Section
542.3,
subsection
20,
Code
2022,
is
amended
to
read
as
follows:
20.
“Peer
review
records”
means
a
file,
report,
or
other
information
relating
to
the
professional
competence
of
an
applicant
in
the
possession
of
a
peer
review
team,
or
information
concerning
the
peer
review
developed
by
a
peer
review
team
in
the
possession
of
an
applicant.
“Peer
review
records”
includes
peer
review
reports.
Sec.
3.
Section
542.3,
Code
2022,
is
amended
by
adding
the
following
new
subsection:
NEW
SUBSECTION
.
20A.
“Peer
review
reports”
means
a
study,
appraisal,
or
review
of
one
or
more
aspects
of
a
certified
public
accounting
firm’s
compliance
with
applicable
accounting,
auditing,
and
other
attestation
standards
adopted
by
generally
recognized
standard-setting
bodies.
Sec.
4.
Section
542.7,
subsection
4,
Code
2022,
is
amended
to
read
as
follows:
4.
An
applicant
for
initial
issuance
or
renewal
of
a
permit
to
practice
as
a
certified
public
accounting
firm
is
required
to
register
each
office
of
the
firm
within
this
state
with
the
board
and
to
show
that
all
attest
and
compilation
services
rendered
in
this
state
are
under
the
charge
of
a
person
holding
a
valid
certificate
issued
under
section
542.6
or
542.19
,
or
by
another
state
if
the
holder
has
a
practice
privilege
under
section
542.20
.
However,
the
requirements
of
this
subsection
shall
not
apply
to
the
office
of
auditor
of
state
if
the
auditor
of
state
otherwise
complies
with
the
requirements
of
section
11.31A
and
this
section.
Sec.
5.
Section
542.7,
subsection
10,
Code
2022,
is
amended
to
read
as
follows:
10.
a.
Peer
review
records
are
privileged
and
confidential,
and
are
not
subject
to
discovery,
subpoena,
or
other
means
House
File
2489,
p.
3
of
legal
compulsion.
Peer
review
records
are
not
admissible
in
evidence
in
a
judicial,
administrative,
or
arbitration
proceeding.
Unless
the
subject
of
a
peer
review
timely
objects
in
writing
to
the
administering
entity
of
the
peer
review
program,
the
administering
entity
shall
make
available
to
the
board
within
thirty
days
of
the
issuance
of
the
peer
review
acceptance
letter
the
final
peer
review
report
or
such
peer
review
records
as
are
designated
by
the
peer
review
program
in
which
the
administering
entity
participates.
The
subject
of
a
peer
review
may
voluntarily
submit
the
final
peer
review
report
directly
to
the
board.
Information
or
documents
discoverable
from
sources
other
than
a
peer
review
team
do
not
become
nondiscoverable
from
such
other
sources
because
they
are
made
available
to
or
are
in
the
possession
of
a
peer
review
team.
Information
or
documents
publicly
available
from
the
American
institute
of
certified
public
accountants
relating
to
quality
or
peer
review
are
not
privileged
or
confidential
under
this
subsection
.
A
person
or
organization
participating
in
the
peer
review
process
shall
not
testify
as
to
the
findings,
recommendations,
evaluations,
or
opinions
of
a
peer
review
team
in
a
judicial,
administrative,
or
arbitration
proceeding.
b.
However,
notwithstanding
any
provision
of
this
subsection
to
the
contrary,
peer
review
reports
concerning
the
office
of
auditor
of
state
shall
be
considered
a
public
record
pursuant
to
chapter
22.
Sec.
6.
NEW
SECTION
.
542.7A
Office
of
auditor
of
state.
1.
The
office
of
auditor
of
state
shall
qualify
as
a
certified
public
accounting
firm
subject
to
the
requirements
of
sections
11.31,
11.31A,
and
542.7.
2.
For
purposes
of
section
542.7,
the
auditor
of
state
shall
be
deemed
to
be
the
owner
of
the
office
of
auditor
of
state
and
the
office
of
auditor
of
state
shall
be
deemed
to
comply
with
the
ownership
requirements
of
section
542.7
if
the
auditor
of
state
is
a
certified
public
accountant
or
all
divisions
of
the
office
of
auditor
of
state
performing
attest
services
are
led
by
a
certified
public
accountant.
3.
The
provisions
of
sections
542.9,
542.17,
and
542.18
shall
not
apply
to
the
office
of
auditor
of
state
as
a
certified
public
accounting
firm
under
this
chapter.
House
File
2489,
p.
4
Sec.
7.
EFFECTIVE
DATE.
This
Act,
being
deemed
of
immediate
importance,
takes
effect
upon
enactment.
Sec.
8.
RETROACTIVE
APPLICABILITY.
This
Act
applies
retroactively
to
July
1,
2002.
______________________________
PAT
GRASSLEY
Speaker
of
the
House
______________________________
JAKE
CHAPMAN
President
of
the
Senate
I
hereby
certify
that
this
bill
originated
in
the
House
and
is
known
as
House
File
2489,
Eighty-ninth
General
Assembly.
______________________________
MEGHAN
NELSON
Chief
Clerk
of
the
House
Approved
_______________,
2022
______________________________
KIM
REYNOLDS
Governor