Synopsis As Introduced Amends the Illinois Public Accounting Act. Makes changes in provisions concerning definitions, the Board of Examiners, the Public Accountant Registration Committee, the Administrative Procedure Act, licensure, practice, unlicensed practice, accountancy activities, powers and duties of the Department of Financial and Professional Regulation, sharing of information, exemption from the Act, application for licensure, qualifications, foreign accountants, expiration and renewal of licenses, fees, inactive status, discipline, investigations, hearings, summary suspension, administrative review, criminal penalties, injunctions, contributory fault, prohibited practice, home rule, and the Registered Certified Public Accountants' Administration and Disciplinary Fund. Changes references throughout the Act from "certified public accountant" to "CPA". Changes references throughout the Act from "Director" to "Secretary". Creates new provisions concerning accountancy activities, qualifications for licensure as a CPA firm, restoration of license from discipline, findings, and recommendations, summary suspension, and confidentiality. Amends the Regulatory Sunset Act. Extends the repeal of the Illinois Public Accounting Act from January 1, 2014 to January 1, 2024. Effective immediately.
House Floor Amendment No. 1 Makes changes to cross-references. Makes changes to a provision concerning licenses with inactive status. Removes the Committee's requirement to review reports within 60 days. Makes other changes.