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1 | AN ACT concerning accounting.
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2 | Be it enacted by the People of the State of Illinois, | ||||||
3 | represented in the General Assembly:
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4 | Section 5. The Illinois Public Accounting Act is amended by | ||||||
5 | changing Sections 0.03, 1, 2, 3, 4, 5, 5.1, 6, 7, 8, 9, 9.01, | ||||||
6 | 9.02, 9.1, 9.2, 11, 13, 14, 14.1, 14.2, 14.3, 16, 17, 17.1, | ||||||
7 | 17.2, 19, 20.01, 20.1, 20.2, 20.3, 20.4, 20.5, 20.6, 21, 26, | ||||||
8 | 28, 30, and 32 and by adding Sections 2.05, 6.1, 30.4, 30.5, | ||||||
9 | and 30.6 as follows:
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10 | (225 ILCS 450/0.03) (from Ch. 111, par. 5500.03)
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11 | (Section scheduled to be repealed on January 1, 2014)
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12 | (Text of Section after amendment by P.A. 92-457 )
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13 | Sec. 0.03. Definitions. As used in this Act, unless the | ||||||
14 | context
otherwise requires:
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15 | (a) " Registered Certified Public Accountant" means any | ||||||
16 | person who has been issued
a registration under this Act as a | ||||||
17 | Registered Certified Public Accountant
certificate as a | ||||||
18 | certified public accountant from the Board of Examiners .
| ||||||
19 | (b) "Licensed Certified Public Accountant" means any | ||||||
20 | person licensed
under this Act as a Licensed Certified Public | ||||||
21 | Accountant .
| ||||||
22 | (c) "Committee" means the Public Accountant Registration | ||||||
23 | Committee appointed by the Director
(Blank) .
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24 | (d) "Department" means the Department of Professional | ||||||
25 | Regulation
(Blank) .
| ||||||
26 | (e) "Director" means the Director of Professional | ||||||
27 | Regulation
(Blank) .
| ||||||
28 | (f) "License", "licensee" and "licensure" refers to the | ||||||
29 | authorization
to practice under the provisions of this Act.
| ||||||
30 | (g) "Peer review program" means a study, appraisal, or | ||||||
31 | review of one or
more aspects of the professional work of a | ||||||
32 | person or firm certified or licensed
under this Act, including |
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1 | quality review, peer review, practice monitoring,
quality | ||||||
2 | assurance, and similar programs undertaken voluntarily or in | ||||||
3 | response
to membership requirements in a professional | ||||||
4 | organization, or as a
prerequisite to the providing of | ||||||
5 | professional services under government
requirements, or any | ||||||
6 | similar internal review or inspection that is required by
| ||||||
7 | professional standards.
| ||||||
8 | (h) "Review committee" means any person or persons | ||||||
9 | conducting, reviewing,
administering, or supervising a peer | ||||||
10 | review program.
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11 | (i) "University" means the University of Illinois.
| ||||||
12 | (j) "Board" means the Board of Examiners established under | ||||||
13 | Section 2.
| ||||||
14 | (k) "Registration", "registrant", and "registered" refer | ||||||
15 | to the authorization to hold oneself out as or use the title | ||||||
16 | "Registered Certified Public Accountant" or "Certified Public | ||||||
17 | Accountant", unless the context otherwise requires.
| ||||||
18 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
19 | (225 ILCS 450/1) (from Ch. 111, par. 5501)
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20 | (Section scheduled to be repealed on January 1, 2014)
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21 | (Text of Section after amendment by P.A. 92-457 )
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22 | Sec. 1. No
Any person, eighteen years of age or older, who | ||||||
23 | has received from
the
Board a
certificate
of his qualifications | ||||||
24 | as hereinafter
provided, shall be styled and
known as a | ||||||
25 | " Certified Public Accountant,"
and no other person shall hold | ||||||
26 | himself or herself out to the public in any manner by using the
| ||||||
27 | assume such title "Certified Public Accountant" or use the | ||||||
28 | abbreviation "C.P.A." or
"CPA" or any words or letters to | ||||||
29 | indicate that the person using the same
is a certified public | ||||||
30 | accountant , unless he or she has been issued a license or | ||||||
31 | registration by the Department under this Act .
| ||||||
32 | (Source: P.A. 92-457, eff. 7-1-04.)
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33 | (225 ILCS 450/2) (from Ch. 111, par. 5502)
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34 | (Section scheduled to be repealed on January 1, 2014)
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1 | (Text of Section after amendment by P.A. 92-457 )
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2 | Sec. 2. Board of Examiners
Examinations . The Governor shall | ||||||
3 | appoint a Board
of
Examiners that shall determine the | ||||||
4 | qualifications of persons applying for
certificates and shall | ||||||
5 | make rules for and conduct examinations for determining
the | ||||||
6 | qualifications.
The Board shall consist of not less than 9 | ||||||
7 | nor more than
11 examiners, as determined by Board rule,
| ||||||
8 | including 2 public
members. The
remainder shall be
certified
| ||||||
9 | public accountants in this State who have been residents of | ||||||
10 | this State for at
least 5 years immediately preceding their | ||||||
11 | appointment, except that one shall be either
a certified public | ||||||
12 | accountant of the grade herein described or an
attorney | ||||||
13 | licensed and
residing in this State and one shall be a | ||||||
14 | certified public accountant who is an
active or retired | ||||||
15 | educator residing in this State. The term of office of each
| ||||||
16 | examiner shall be 3 years, except that upon the enactment of | ||||||
17 | this
amendatory Act of the 93rd
92nd General Assembly, those | ||||||
18 | members
currently serving on the Board
shall continue to serve | ||||||
19 | the duration of their terms, one additional examiner
shall be | ||||||
20 | appointed for a term of one year, and one additional examiner | ||||||
21 | for a term
of 2 years , and any additional examiners for terms | ||||||
22 | of
3 years . As the term of
each examiner expires, the | ||||||
23 | appointment shall be filled for a term of 3 years
from the date | ||||||
24 | of expiration. Any Board member who has served as a member for | ||||||
25 | 6
consecutive years shall not be eligible for reappointment | ||||||
26 | until 2 years after
the end of the term in which the sixth | ||||||
27 | consecutive year of service occurred,
except that members of | ||||||
28 | the
Board serving on the effective date of this Section shall | ||||||
29 | be eligible
for appointment to one additional 3-year term. | ||||||
30 | Where the expiration of
any member's term shall result in less | ||||||
31 | than 11 members then serving on
the Board, the member shall | ||||||
32 | continue to serve until his or her successor is
appointed and | ||||||
33 | has qualified. No Board member shall serve more than 2 full | ||||||
34 | terms. Anyone appointed to the Board shall be ineligible to be | ||||||
35 | appointed to the Illinois Public Accountants Registration | ||||||
36 | Committee appointed by the Director.
Appointments to fill |
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1 | vacancies shall be made in the same manner as original | ||||||
2 | appointments for the unexpired portion of the vacated term. The | ||||||
3 | membership of the Board shall reasonably reflect | ||||||
4 | representation from the geographic areas in this State. The | ||||||
5 | members of the Board appointed by the Governor shall receive | ||||||
6 | reasonable compensation for their necessary, legitimate, and | ||||||
7 | authorized expenses in accordance with the Governor's Travel | ||||||
8 | Control Board rules and the Travel Regulation Rules. The | ||||||
9 | Governor may terminate the term of any
member of the Board at | ||||||
10 | any time for cause.
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11 | Information regarding educational requirements, the | ||||||
12 | application process,
the
examination, and fees shall be | ||||||
13 | available on the Board's Internet web site as
well as in
| ||||||
14 | printed documents available from the Board's office.
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15 | The examination shall test the applicant's knowledge of | ||||||
16 | accounting, auditing,
and other related subjects, if any, as | ||||||
17 | the Board may deem advisable. Prior
to
implementation of a | ||||||
18 | computer-based examination, a
candidate must be examined in all | ||||||
19 | subjects except that a candidate who has
passed in 2 or more | ||||||
20 | subjects and who attained a minimum grade in each subject
| ||||||
21 | failed as may be established by Board regulations shall have | ||||||
22 | the right to be
re-examined in the remaining subjects at one or | ||||||
23 | more of the next 6
succeeding examinations.
Upon implementation | ||||||
24 | of a computer-based examination, a
candidate shall be required | ||||||
25 | to pass all sections of the examination in order to
qualify for | ||||||
26 | a certificate. A candidate may take the required test sections
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27 | individually and in any order, as long as the examination is | ||||||
28 | taken within a
timeframe established by
Board rule.
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29 | The Board may in certain cases waive or defer any of the | ||||||
30 | requirements of
this Section regarding the circumstances in | ||||||
31 | which the various Sections of the
examination must be passed | ||||||
32 | upon a showing that, by reasons of circumstances
beyond the | ||||||
33 | applicant's control, the applicant was unable to meet the
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34 | requirement.
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35 | Applicants may also be required to pass an examination on | ||||||
36 | the rules of
professional conduct, as determined by Board rule |
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1 | to be appropriate.
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2 | The examinations shall be given at least
twice a year.
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3 | Any application, document or other information filed by or | ||||||
4 | concerning an
applicant and any examination grades of an | ||||||
5 | applicant shall be deemed
confidential and shall not be | ||||||
6 | disclosed to anyone without the prior written
permission of the | ||||||
7 | applicant, except that it is hereby deemed in the public
| ||||||
8 | interest that the names and addresses only of all applicants | ||||||
9 | shall be a public
record and be released as public information. | ||||||
10 | Nothing herein shall prevent the
Board from making public | ||||||
11 | announcement of the names of persons receiving
certificates | ||||||
12 | under this Act.
| ||||||
13 | The Board shall adopt all necessary and reasonable rules | ||||||
14 | and regulations
for the effective administration of this Act. | ||||||
15 | Without limiting the foregoing,
the Board
shall adopt and | ||||||
16 | prescribe rules and regulations for a fair and wholly and
| ||||||
17 | impartial method of determining the qualifications of | ||||||
18 | applicants for
examination and for a fair and wholly and | ||||||
19 | impartial method of examination of
persons under Section 2 and | ||||||
20 | may establish rules for subjects conditioned and
for the | ||||||
21 | transfer of credits from other jurisdictions with respect to | ||||||
22 | subjects
passed. | ||||||
23 |
The Board shall make an annual report of its activities to | ||||||
24 | the Governor and the Director. This report shall include a | ||||||
25 | complete operating and financial statement covering its | ||||||
26 | operations during the year, the number of examinations given, | ||||||
27 | the pass/fail ratio for examinations, and any other information | ||||||
28 | deemed appropriate. The Board shall have an audit of its books | ||||||
29 | and accounts every 2 years by the Auditor General.
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30 | (Source: P.A. 92-457, eff. 7-1-04; 93-629, eff. 12-23-03.) | ||||||
31 | (225 ILCS 450/2.05 new)
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32 | (Section scheduled to be repealed on January 1, 2014) | ||||||
33 | Sec. 2.05. Public Accountant Registration Committee. The | ||||||
34 | Director shall appoint a Public Accountant Registration | ||||||
35 | Committee consisting of 7 persons, who shall be appointed by |
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1 | and shall serve in an advisory capacity to the Director. Six | ||||||
2 | members must be licensed public accountants or Licensed | ||||||
3 | Certified Public Accountants in good standing and must be | ||||||
4 | actively engaged in the practice of public accounting in this | ||||||
5 | State and one member must be a member of the public who is not | ||||||
6 | licensed under this Act or a similar Act of another | ||||||
7 | jurisdiction and who has no connection with the accounting or | ||||||
8 | public accounting profession. Members shall serve 4-year terms | ||||||
9 | and until their successors are appointed and qualified. No | ||||||
10 | member shall be reappointed to the Committee for more than 2 | ||||||
11 | terms. Appointments to fill vacancies shall be made in the same | ||||||
12 | manner as original appointments for the unexpired portion of | ||||||
13 | the vacated term. The membership of the Committee shall | ||||||
14 | reasonably reflect representation from the geographic areas in | ||||||
15 | this State.
The members of the Committee appointed by the | ||||||
16 | Director shall receive reasonable compensation, as determined | ||||||
17 | by the Department, for the necessary, legitimate, and | ||||||
18 | authorized expenses approved by the Department. All expenses | ||||||
19 | shall be paid from the Registered Certified Public Accountants' | ||||||
20 | Administration and Disciplinary Fund.
The Director may | ||||||
21 | terminate the appointment of any member for cause.
The Director | ||||||
22 | shall consider the advice and recommendations of the Committee | ||||||
23 | on questions involving standards of professional conduct, | ||||||
24 | discipline, and qualifications of candidates and licensees | ||||||
25 | under this Act.
| ||||||
26 | (225 ILCS 450/3) (from Ch. 111, par. 5504)
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27 | (Section scheduled to be repealed on January 1, 2014)
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28 | (Text of Section after amendment by P.A. 92-457 )
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29 | Sec. 3. Qualifications of applicants. To be admitted to | ||||||
30 | take the examination
after the
year 2000, for the purpose of | ||||||
31 | determining the qualifications of applicants
for certificates | ||||||
32 | as certified public accountants under this Act, the
applicants | ||||||
33 | shall be required to present proof of the successful completion
| ||||||
34 | of 150 college or university semester hours of study or their | ||||||
35 | quarter-hour or other academic credit unit equivalent,
to |
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1 | include a baccalaureate or higher degree conferred by a college | ||||||
2 | or
university acceptable to the
Board of Examiners , the total | ||||||
3 | educational
program to include an accounting concentration or | ||||||
4 | equivalent as determined
by Board rule
Board rules to be | ||||||
5 | appropriate . In adopting those rules, the
Board shall
consider, | ||||||
6 | among other things, any impediments to the interstate practice | ||||||
7 | of
public accounting that may result from differences in the | ||||||
8 | requirements in
other states.
| ||||||
9 | Candidates who have taken the examination at least once | ||||||
10 | before January
1, 2001, may take the examination under the | ||||||
11 | qualifications in effect when
they first took the examination.
| ||||||
12 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
13 | (225 ILCS 450/4) (from Ch. 111, par. 5505)
| ||||||
14 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
15 | Sec. 4. Transitional language.
| ||||||
16 | (a) The provisions of this Act shall not be construed to | ||||||
17 | invalidate any
certificates as certified public accountants | ||||||
18 | issued by the University under
"An Act to regulate the | ||||||
19 | profession of public accountants", approved May 15,
1903, as | ||||||
20 | amended, or any certificates as Certified Public Accountants
| ||||||
21 | issued by the University or the Board under Section 4 of "An | ||||||
22 | Act to regulate the
practice of public accounting and to repeal | ||||||
23 | certain acts therein named",
approved July 22, 1943, as | ||||||
24 | amended, which certificates shall be valid and
in force as | ||||||
25 | though issued under the provisions of this Act. | ||||||
26 | (b) Before July 1, 2010, persons who have received a | ||||||
27 | Certified Public Accountant (CPA) Certificate issued by the | ||||||
28 | Board of Examiners or holding similar certifications from other | ||||||
29 | jurisdictions with equivalent educational requirements and | ||||||
30 | examination standards may apply to the Department on forms | ||||||
31 | supplied by the Department for and may be granted a | ||||||
32 | registration as a Registered Certified Public Accountant from | ||||||
33 | the Department upon payment of the required fee. | ||||||
34 | (c) Beginning with the 2006 renewal, the Department shall | ||||||
35 | cease to issue a license as a Public Accountant. Any person |
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1 | holding a valid license as a Public Accountant prior to | ||||||
2 | September 30, 2006 who meets the conditions for renewal of a | ||||||
3 | license under this Act, shall be issued a license as a Licensed | ||||||
4 | Certified Public Accountant under this Act and shall be subject | ||||||
5 | to continued regulation by the Department under this Act. The | ||||||
6 | Department may adopt rules to implement this Section. | ||||||
7 | (d) The Department shall not issue any new registrations as | ||||||
8 | a Registered Certified Public Accountant after July 1, 2010. | ||||||
9 | After that date, any applicant for licensure under this Act | ||||||
10 | shall apply for a license as a Licensed Certified Public | ||||||
11 | Accountant and shall meet the requirements set forth in this | ||||||
12 | Act. Any person issued a Certified Public Accountant | ||||||
13 | certificate who has been issued a registration as a Registered | ||||||
14 | Certified Public Accountant may renew the registration under | ||||||
15 | the provisions of this Act and that person may continue to | ||||||
16 | renew or restore the registration during his or her lifetime, | ||||||
17 | subject only to the renewal or restoration requirements for the | ||||||
18 | registration under this Act. Such registration shall be subject | ||||||
19 | to the disciplinary provisions of this Act. | ||||||
20 | (e) On and after October 1, 2006, no person shall hold | ||||||
21 | himself or herself out to the public in any manner by using the | ||||||
22 | title "certified public accountant" or use the abbreviation | ||||||
23 | "C.P.A." or "CPA" or any words or letters to indicate that the | ||||||
24 | person using the same is a certified public accountant unless | ||||||
25 | he or she maintains a current registration or license issued by | ||||||
26 | the Department. It shall be a violation of this Act for an | ||||||
27 | individual to assume or use the title "certified public | ||||||
28 | accountant" or use the abbreviation "C.P.A." or "CPA" or any | ||||||
29 | words or letters to indicate that the person using the same is | ||||||
30 | a certified public accountant unless he or she maintains a | ||||||
31 | current registration or license issued by the Department.
| ||||||
32 | (Source: P.A. 83-291.)
| ||||||
33 | (225 ILCS 450/5) (from Ch. 111, par. 5506)
| ||||||
34 | (Section scheduled to be repealed on January 1, 2014)
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35 | Sec. 5. Certification of out-of-State accountants.
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1 | (a) Upon review of an applicant's educational and | ||||||
2 | examination credentials by the Board of Examiners, the | ||||||
3 | Department
The Board may issue a
registration
certificate as a | ||||||
4 | registered certified public accountant, without examination, | ||||||
5 | to any
applicant who holds a valid unrevoked certificate as a | ||||||
6 | certified public
accountant issued under the laws of any other | ||||||
7 | state or territory of the United
States or the District of | ||||||
8 | Columbia, provided:
| ||||||
9 | (1) that the state that issued the certificate has
| ||||||
10 | certification requirements that have been determined by
| ||||||
11 | the Board to be substantially equivalent to the
| ||||||
12 | certification requirements of Illinois and grants
similar | ||||||
13 | rights to those that Illinois grants to
certificate | ||||||
14 | holders;
| ||||||
15 | (2) that the state that issued the certificate has
| ||||||
16 | certification requirements that the Board has
determined | ||||||
17 | not to be substantially equivalent to the
certification | ||||||
18 | requirements of Illinois or does not
grant similar rights | ||||||
19 | to Illinois certificate holders,
but the Board determines | ||||||
20 | that the individual applicant
possesses personal | ||||||
21 | qualifications substantially
equivalent to Illinois' | ||||||
22 | certification
requirements; or
| ||||||
23 | (3) that the applicant does not qualify under
| ||||||
24 | subsections (1) or (2) above, but the following
conditions | ||||||
25 | are met:
| ||||||
26 | (A) the certificate was granted to the applicant on | ||||||
27 | the
basis
of the Uniform Certified Public Accountant | ||||||
28 | examination; and
| ||||||
29 | (B) the educational qualifications of the | ||||||
30 | applicant for a
certificate, at
the time of the written | ||||||
31 | examination, were equivalent to the educational
| ||||||
32 | qualifications then required of applicants for | ||||||
33 | admission to the Illinois
examination for certified | ||||||
34 | public accountant or, the applicant
has, after passing | ||||||
35 | the examination upon which his or her certificate was | ||||||
36 | based,
not less than 5 years of experience in the |
| |||||||
| |||||||
1 | practice of public accounting within
the 10 years | ||||||
2 | immediately preceding this application, otherwise | ||||||
3 | reasonably
considered acceptable by the Board.
| ||||||
4 | (b) In determining the substantial equivalency of the
| ||||||
5 | requirements for certification or the rights granted to
| ||||||
6 | certificate holders pursuant to this Section, the Department
| ||||||
7 | Board may
rely on the determinations of the National | ||||||
8 | Qualification
Appraisal Service of the National Association of | ||||||
9 | State Boards
of Accountancy or any other qualification | ||||||
10 | appraisal service, as it deems
appropriate.
| ||||||
11 | (Source: P.A. 91-508, eff. 8-13-99; 91-779, eff. 6-9-00.)
| ||||||
12 | (225 ILCS 450/5.1)
| ||||||
13 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
14 | Sec. 5.1. Foreign accountants. The
Board shall issue a
| ||||||
15 | certificate to a
holder of a foreign designation, granted in a | ||||||
16 | foreign country entitling the
holder thereof to engage in the | ||||||
17 | practice of public accounting, provided:
| ||||||
18 | (a) The foreign authority that granted the designation | ||||||
19 | makes similar
provision to allow a person who holds a valid | ||||||
20 | certificate issued by this State
to obtain the foreign | ||||||
21 | authority's comparable designation; and
| ||||||
22 | (b) The foreign designation (i) was duly issued by a | ||||||
23 | foreign authority
that
regulates the practice of public | ||||||
24 | accounting and the foreign designation has not
expired or | ||||||
25 | been revoked or suspended; and (ii) was issued upon the | ||||||
26 | basis of
educational and examination requirements | ||||||
27 | established by the foreign authority
or by law; and
| ||||||
28 | (c) The applicant (i) received the designation based on | ||||||
29 | educational and
examination standards substantially | ||||||
30 | equivalent to those in effect in this State
at the time the | ||||||
31 | foreign designation was granted; and (ii) passed a uniform
| ||||||
32 | qualifying examination in national standards and an | ||||||
33 | examination on the laws,
regulations, and code of ethical | ||||||
34 | conduct in effect in this State acceptable to
the
Board.
| ||||||
35 | The Board shall be the sole and final judge of the |
| |||||||
| |||||||
1 | qualifications of
applicants under this Section.
| ||||||
2 | (Source: P.A. 88-36.)
| ||||||
3 | (225 ILCS 450/6) (from Ch. 111, par. 5507)
| ||||||
4 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
5 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
6 | Sec. 6. Fees; pay of examiners; expenses. The Board shall | ||||||
7 | charge a fee in an
amount at least sufficient to defray the | ||||||
8 | costs and expenses incident to the
examination and issuance of | ||||||
9 | a certificate provided for in Section 6.1
3 and for the
| ||||||
10 | issuance of a certificate provided for in Section 5. This fee | ||||||
11 | shall be payable
by the applicant at the time of filing an | ||||||
12 | application.
| ||||||
13 | The Board appointed by the Governor in accordance with the
| ||||||
14 | provisions of
Section 2 shall receive reasonable compensation, | ||||||
15 | to be set
by Board rule, for the time actually expended in | ||||||
16 | pursuance of the duties imposed
upon them by this Act, and they | ||||||
17 | shall be further entitled to their necessary
traveling | ||||||
18 | expenses. All expenses provided for by this Act shall be paid | ||||||
19 | from
the fees received under this Act.
| ||||||
20 | From the fees collected, the Board shall pay all the | ||||||
21 | expenses incident to the
examinations, the expenses of issuing | ||||||
22 | certificates, the traveling expenses of
the examiners, and | ||||||
23 | their compensation while performing their duties, and other
| ||||||
24 | necessary expenses in the administration of this Act.
| ||||||
25 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
26 | (225 ILCS 450/6.1 new) | ||||||
27 | (Section scheduled to be repealed on January 1, 2014) | ||||||
28 | Sec. 6.1. Examinations. | ||||||
29 | (a) The examination shall test the applicant's knowledge of | ||||||
30 | accounting, auditing, and other related subjects, if any, as | ||||||
31 | the Board may deem advisable. A candidate shall be required to | ||||||
32 | pass all sections of the examination in order to qualify for a | ||||||
33 | certificate. A candidate may take the required test sections | ||||||
34 | individually and in any order, as long as the examination is |
| |||||||
| |||||||
1 | taken within a timeframe established by Board rule. | ||||||
2 | (b) On and after January 1, 2005, applicants shall also be | ||||||
3 | required to pass an examination on the rules of professional | ||||||
4 | conduct, as determined by Board rule to be appropriate, before | ||||||
5 | they may be awarded a certificate as a Certified Public | ||||||
6 | Accountant. | ||||||
7 | (c) The Board may in certain cases waive or defer any of | ||||||
8 | the requirements of this Section regarding the circumstances in | ||||||
9 | which the various Sections of the examination must be passed | ||||||
10 | upon a showing that, by reasons of circumstances beyond the | ||||||
11 | applicant's control, the applicant was unable to meet the | ||||||
12 | requirement. | ||||||
13 | (d) Any application, document, or other information filed | ||||||
14 | by or concerning an applicant and any examination grades of an | ||||||
15 | applicant shall be deemed confidential and shall not be | ||||||
16 | disclosed to anyone without the prior written permission of the | ||||||
17 | applicant, except that the names and addresses only of all | ||||||
18 | applicants shall be a public record and be released as public | ||||||
19 | information. Nothing in this subsection shall prevent the Board | ||||||
20 | from making public announcement of the names of persons | ||||||
21 | receiving certificates under this Act.
| ||||||
22 | (225 ILCS 450/7) (from Ch. 111, par. 5508)
| ||||||
23 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
24 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
25 | Sec. 7. Licensure. A holder of a
certificate or | ||||||
26 | registration as a
certified public accountant
issued by the
| ||||||
27 | Board
or Department shall not be entitled to practice public | ||||||
28 | accounting, as
defined in Section 8, in this
State until the | ||||||
29 | person has been licensed as a licensed certified public
| ||||||
30 | accountant by the Department
Board .
| ||||||
31 | The Department
Board may refuse to issue or may suspend the | ||||||
32 | license
of any person
who fails to file a return, or to pay the | ||||||
33 | tax, penalty or interest shown in a
filed return, or to pay any | ||||||
34 | final assessment of tax, penalty or interest, as
required by | ||||||
35 | any tax Act administered by the Illinois Department of Revenue,
|
| |||||||
| |||||||
1 | until such time as the requirements of any such tax Act are | ||||||
2 | satisfied.
| ||||||
3 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
4 | (225 ILCS 450/8) (from Ch. 111, par. 5509)
| ||||||
5 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
6 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
7 | Sec. 8. Practicing as a licensed public accountant or
| ||||||
8 | licensed certified public accountant. Persons,
either | ||||||
9 | individually, as
members of a partnership or limited liability | ||||||
10 | company, or as officers of a
corporation, who sign, affix or | ||||||
11 | associate their names or any trade or assumed
names used by | ||||||
12 | them in a profession or business to any report expressing or
| ||||||
13 | disclaiming an opinion on a financial statement based on an | ||||||
14 | audit or
examination of that statement, or expressing assurance | ||||||
15 | on a financial
statement, shall be deemed to be in practice as | ||||||
16 | licensed public accountants or licensed certified public
| ||||||
17 | accountants within the
meaning and intent of this Act.
| ||||||
18 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
19 | (225 ILCS 450/9) (from Ch. 111, par. 5510)
| ||||||
20 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
21 | Sec. 9. No person shall, after the effective date of this | ||||||
22 | amendatory
Act of the 93rd General Assembly , begin to practice | ||||||
23 | in this State or hold himself out as being able to
practice | ||||||
24 | licensed certified public accounting in this State or hold | ||||||
25 | himself or herself out as being able to practice as a licensed | ||||||
26 | certified public accountant
this profession , unless he or she
| ||||||
27 | is licensed in accordance with the provisions
of this Act. Any | ||||||
28 | person who is the holder of a license as a public accountant
| ||||||
29 | heretofore issued, under any prior Act licensing or registering | ||||||
30 | public accountants
in this State, valid on the effective date | ||||||
31 | of this amendatory Act shall
be deemed to be licensed under | ||||||
32 | this Act shall be subject to the same
rights and obligations as | ||||||
33 | persons originally licensed under this Act.
| ||||||
34 | No person shall, after the effective date of this |
| |||||||
| |||||||
1 | amendatory Act of the 93rd General Assembly, begin to hold | ||||||
2 | himself or herself out as a registered certified public | ||||||
3 | accountant unless he or she is registered in accordance with | ||||||
4 | the provisions
of this Act. | ||||||
5 | On and after October 1, 2006, no person may use or | ||||||
6 | incorporate the title "certified public accountant" without | ||||||
7 | holding a license as a licensed certified public accountant or | ||||||
8 | registered certified public accountant under this Act.
| ||||||
9 | (Source: P.A. 83-291.)
| ||||||
10 | (225 ILCS 450/9.01)
| ||||||
11 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
12 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
13 | Sec. 9.01. Unlicensed practice; violation; civil penalty.
| ||||||
14 | (a) Any person who practices, offers to practice, attempts | ||||||
15 | to practice, or
holds oneself out to practice as a licensed | ||||||
16 | certified public accountant
without being licensed
under this | ||||||
17 | Act shall, in
addition to any other penalty provided by law, | ||||||
18 | pay a civil penalty to the
Department
Board in an amount not to | ||||||
19 | exceed $5,000 for each offense as
determined by
the Department
| ||||||
20 | Board . The civil penalty shall be assessed by the
Department
| ||||||
21 | Board after a
hearing is held in accordance with the provisions | ||||||
22 | set forth in this Act
regarding the provision of a hearing for | ||||||
23 | the discipline of a licensee.
| ||||||
24 | (b) The Department
Board has the authority and power to | ||||||
25 | investigate
any and all
unlicensed activity.
| ||||||
26 | (c) The civil penalty shall be paid within 60 days after | ||||||
27 | the effective date
of the order imposing the civil penalty. The | ||||||
28 | order shall constitute a judgment
and may be filed and | ||||||
29 | execution had thereon in the same manner as any judgment
from | ||||||
30 | any court of record.
| ||||||
31 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
32 | (225 ILCS 450/9.02)
| ||||||
33 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
34 | (This Section may contain text from a Public Act with a |
| |||||||
| |||||||
1 | delayed effective
date )
| ||||||
2 | Sec. 9.02. Unauthorized use of title; violation; civil | ||||||
3 | penalty.
| ||||||
4 | (a) On and after October 1, 2006, any
Any person who shall | ||||||
5 | assume the title "certified public
accountant" or use the | ||||||
6 | abbreviation "CPA" or any words or letters
to indicate that the | ||||||
7 | person using the same is a certified public
accountant without | ||||||
8 | having been issued a registration as a registered certified | ||||||
9 | public accountant or a license as a licensed certified public | ||||||
10 | accountant
certificate under the
provisions of this Act shall, | ||||||
11 | in addition to any other penalty
provided by law, pay a civil | ||||||
12 | penalty to the Department
Board in an amount not to
exceed | ||||||
13 | $5,000 for each offense as determined by the Department
Board . | ||||||
14 | The
civil penalty shall be assessed by the Department
Board
| ||||||
15 | after a hearing is held in
accordance with the provisions set | ||||||
16 | forth in this Act regarding the
provision of a hearing for the | ||||||
17 | discipline of a licensee.
| ||||||
18 | (b) The Department
Board has the authority and power to | ||||||
19 | investigate any and
all alleged improper use of the certified | ||||||
20 | public accountant title or CPA
designation.
| ||||||
21 | (c) The civil penalty shall be paid within 60 days after | ||||||
22 | the
effective date of the order imposing the civil penalty. The | ||||||
23 | order shall
constitute a judgment and may be filed and | ||||||
24 | execution had thereon in the
same manner as any judgment from | ||||||
25 | any court of record.
| ||||||
26 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
27 | (225 ILCS 450/9.1) (from Ch. 111, par. 5510.1)
| ||||||
28 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
29 | Sec. 9.1. Temporary practice.
| ||||||
30 | (a) An individual who has passed the Uniform CPA | ||||||
31 | Examination and who
holds a valid, unrevoked license or permit | ||||||
32 | to practice as a public accountant
from a state or United | ||||||
33 | States territory in which he or she resides or has his
or her | ||||||
34 | principal place of business, and who does not reside or have | ||||||
35 | his or her
principal place of business in this State, may |
| |||||||
| |||||||
1 | practice public accounting
within this State without the need | ||||||
2 | to obtain a license under this Act. Such
practice shall be | ||||||
3 | conducted in accordance with the relevant provisions of this
| ||||||
4 | Act and rules and regulations adopted hereunder.
| ||||||
5 | (b) A foreign accountant who holds a license, certificate, | ||||||
6 | or degree in a
foreign country constituting a recognized | ||||||
7 | qualification for the practice of
public accounting and who | ||||||
8 | does not reside or have an office in this State may
temporarily | ||||||
9 | practice public accounting in this State or professional | ||||||
10 | business
incident to his or her regular practice without | ||||||
11 | licensure under this Act
provided the standards, including | ||||||
12 | examination, governing issuance of the
foreign license, | ||||||
13 | certificate, or degree are substantially equivalent to those
in | ||||||
14 | Illinois, and the foreign jurisdiction in question grants equal | ||||||
15 | recognition
to Illinois accountants.
| ||||||
16 | (c) Any person practicing pursuant to this Section shall | ||||||
17 | file a notice with the Department on forms prescribed by the | ||||||
18 | Department. The Department shall determine by rule the | ||||||
19 | information to be submitted. The Department may charge a | ||||||
20 | processing fee as determined by rule.
| ||||||
21 | (Source: P.A. 91-508, eff. 8-13-99.)
| ||||||
22 | (225 ILCS 450/9.2) (from Ch. 111, par. 5510.2)
| ||||||
23 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
24 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
25 | Sec. 9.2. Powers and duties of the Department
Board .
| ||||||
26 | (a) The Department
Board shall exercise the powers and
| ||||||
27 | duties
prescribed
by "The Civil Administrative Code of | ||||||
28 | Illinois" for the administration of
licensing acts and shall | ||||||
29 | exercise such other powers and duties invested by this
Act.
| ||||||
30 | (b) The Director
Board may promulgate rules consistent with | ||||||
31 | the
provisions of
this Act for the administration and | ||||||
32 | enforcement of the provisions of this Act for which the | ||||||
33 | Department is responsible
thereof, and for the payment
of fees | ||||||
34 | connected therewith and may prescribe forms which shall be | ||||||
35 | issued
in connection therewith. The rules shall include |
| |||||||
| |||||||
1 | standards and criteria
for licensure and professional conduct | ||||||
2 | and discipline.
| ||||||
3 | (c) The Department may solicit the advice and expert | ||||||
4 | knowledge of the Committee or the Board on any matter relating | ||||||
5 | to the administration and enforcement of this Act.
| ||||||
6 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
7 | (225 ILCS 450/11) (from Ch. 111, par. 5512)
| ||||||
8 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
9 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
10 | Sec. 11. Exemption from Act. Nothing in this Act shall | ||||||
11 | prohibit any
person who may be engaged by one or more persons, | ||||||
12 | partnerships or corporations,
from keeping books, or from | ||||||
13 | making trial balances or statements, or, as an
employee, from | ||||||
14 | making audits or preparing reports, provided that the person
| ||||||
15 | does not indicate or in any manner imply that the trial | ||||||
16 | balances, statements,
or reports have been prepared or examined | ||||||
17 | by a certified public accountant , a registered certified public | ||||||
18 | accountant, or a
licensed certified public accountant or that | ||||||
19 | they represent the independent
opinion of a certified
public | ||||||
20 | accountant or a licensed certified public accountant. Nothing | ||||||
21 | in
this Act shall prohibit
any person from preparing tax and | ||||||
22 | information returns or from acting as
representative or agent | ||||||
23 | at tax inquiries, examinations or proceedings, or from
| ||||||
24 | preparing and installing accounting systems, or from reviewing | ||||||
25 | accounts
and accounting methods for the purpose of determining | ||||||
26 | the efficiency of
accounting methods or appliances, or from | ||||||
27 | studying matters of
organization, provided that the person does | ||||||
28 | not indicate or in any
manner imply that the reports have been | ||||||
29 | prepared by, or that the representation
or accounting work has | ||||||
30 | been performed by a certified public accountant , a registered | ||||||
31 | certified public accountant, or a
licensed certified public | ||||||
32 | accountant. Unlicensed accountants are not
prohibited from | ||||||
33 | performing
any services that they may have performed prior to | ||||||
34 | this Amendatory Act of 1983.
| ||||||
35 | (Source: P.A. 92-457, eff. 7-1-04.)
|
| |||||||
| |||||||
1 | (225 ILCS 450/13) (from Ch. 111, par. 5514)
| ||||||
2 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
3 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
4 | Sec. 13. Application for licensure. A person, partnership, | ||||||
5 | limited liability
company, or corporation desiring to practice | ||||||
6 | public accounting in this State
shall make application to the | ||||||
7 | Department
Board for licensure as a
licensed certified public | ||||||
8 | accountant
and shall pay the fee required by rule
Section 17 .
| ||||||
9 | Applicants have 3 years from the date of application to | ||||||
10 | complete the
application process. If the process has not been | ||||||
11 | completed in 3 years,
the application shall be denied, the fee | ||||||
12 | forfeited and the applicant must
reapply and meet the | ||||||
13 | requirements in effect at the time of reapplication.
| ||||||
14 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
15 | (225 ILCS 450/14) (from Ch. 111, par. 5515)
| ||||||
16 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
17 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
18 | Sec. 14. Qualifications. The Department may
Board shall
| ||||||
19 | license as
licensed certified public accountants the | ||||||
20 | following:
| ||||||
21 | (a) All persons who have received certificates as certified | ||||||
22 | public accountants from the Board or who hereafter receive | ||||||
23 | registrations as registered certified public accountants from | ||||||
24 | the Department
certificates
as certified public accountants | ||||||
25 | from the Board, who have had at least one year
of full-time | ||||||
26 | experience, or its equivalent, providing any type
of service or | ||||||
27 | advice involving
the use of accounting, attest, management | ||||||
28 | advisory, financial advisory, tax, or
consulting skills, which | ||||||
29 | may be gained through employment in government,
industry, | ||||||
30 | academia, or public practice.
| ||||||
31 | If the applicant's certificate as a certified public | ||||||
32 | accountant from the Board or the applicant's registration as a | ||||||
33 | registered certified public accountant from the Department was | ||||||
34 | issued more than 4 years prior to the
application for a
an |
| |||||||
| |||||||
1 | internal license under this Section, the applicant shall
submit | ||||||
2 | any evidence the Department
Board may require showing the
| ||||||
3 | applicant has
completed not less than 90 hours of continuing | ||||||
4 | professional education
acceptable to the Department
Board
| ||||||
5 | within the 3 years immediately
preceding the date
of | ||||||
6 | application.
| ||||||
7 | (b) All partnerships, limited liability companies, or | ||||||
8 | corporations, or
other entities engaged in the practice of | ||||||
9 | public accounting in this State and
meeting the following | ||||||
10 | requirements:
| ||||||
11 | (1) (Blank).
| ||||||
12 | (2) A majority of the ownership of the firm, in terms | ||||||
13 | of
financial interests and voting rights of all partners,
| ||||||
14 | officers, shareholders, members, or managers, belongs to
| ||||||
15 | persons licensed in some state, and the partners, officers,
| ||||||
16 | shareholders, members, or managers whose principal place | ||||||
17 | of
business is in this State and who practice public | ||||||
18 | accounting
in this State, as defined in Section 8 of this | ||||||
19 | Act, hold a
valid license issued by this State.
| ||||||
20 | (3) It shall be lawful for a nonprofit cooperative | ||||||
21 | association engaged
in rendering an auditing and | ||||||
22 | accounting service to its members only, to
continue to | ||||||
23 | render that service provided that the rendering of auditing | ||||||
24 | and
accounting service by the cooperative association | ||||||
25 | shall at all times be under
the control and supervision of | ||||||
26 | licensed certified public accountants.
| ||||||
27 | (4) The Department
Board may adopt rules and | ||||||
28 | regulations as
necessary to provide
for the practice of | ||||||
29 | public accounting by business entities that may be
| ||||||
30 | otherwise authorized by law to conduct business in | ||||||
31 | Illinois.
| ||||||
32 | (Source: P.A. 91-508, eff. 8-13-99; 91-827, eff. 6-13-00; | ||||||
33 | 92-457, eff.
7-1-04.)
| ||||||
34 | (225 ILCS 450/14.1)
| ||||||
35 | (Section scheduled to be repealed on January 1, 2014)
|
| |||||||
| |||||||
1 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
2 | Sec. 14.1. Foreign accountants. The Department
Board shall | ||||||
3 | issue a
license to a
holder of a foreign designation, granted | ||||||
4 | in a foreign country entitling the
holder thereof to engage in | ||||||
5 | the practice of public accounting, provided:
| ||||||
6 | (a) The applicant is the holder of a certificate as a | ||||||
7 | certified public accountant from the Board or a registration as | ||||||
8 | a registered certified public accountant from the Department
| ||||||
9 | issued under
Section 2, 5, or 5.1 of this Act; and
| ||||||
10 | (b) The foreign authority that granted the designation | ||||||
11 | makes similar
provision to allow a person who holds a valid | ||||||
12 | license issued by this State to
obtain a foreign authority's | ||||||
13 | comparable designation; and
| ||||||
14 | (c) The foreign designation (i) was duly issued by a | ||||||
15 | foreign authority that
regulates the practice of public | ||||||
16 | accounting and the foreign designation has not
expired or been | ||||||
17 | revoked or suspended; (ii) entitles the holder to issue reports
| ||||||
18 | upon financial statements; and (iii) was issued upon the basis | ||||||
19 | of educational,
examination, and experience requirements | ||||||
20 | established by the foreign authority
or by law; and
| ||||||
21 | (d) The applicant (i) received the designation based on | ||||||
22 | standards
substantially equivalent to those in effect in this | ||||||
23 | State at the time the
foreign designation was granted; and (ii) | ||||||
24 | completed an experience requirement,
substantially equivalent | ||||||
25 | to the requirement set out in Section 14, in the
jurisdiction | ||||||
26 | that granted the foreign designation or has completed 5 years | ||||||
27 | of
experience in the practice of public accounting in this | ||||||
28 | State, or meets
equivalent requirements prescribed by the | ||||||
29 | Department
Board by rule,
within the 10
years immediately | ||||||
30 | preceding the application.
| ||||||
31 | (e) Applicants have 3 years from the date of application to | ||||||
32 | complete the application process. If the process has not been | ||||||
33 | completed in 3 years, the application shall be denied, the fee | ||||||
34 | shall be forfeited, and the applicant must reapply and meet the | ||||||
35 | requirements in effect at the time of reapplication.
| ||||||
36 | (Source: P.A. 92-457, eff. 7-1-04.)
|
| |||||||
| |||||||
1 | (225 ILCS 450/14.2)
| ||||||
2 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
3 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
4 | Sec. 14.2. Licensure by endorsement.
| ||||||
5 | (a) The Department
Board shall issue a
license as a | ||||||
6 | licensed certified public accountant to any applicant
who holds | ||||||
7 | a certificate as a certified public accountant issued by the
| ||||||
8 | Board of Examiners or similar certification from another | ||||||
9 | jurisdiction with equivalent educational requirements and | ||||||
10 | examination standards, applies to the Department on forms | ||||||
11 | supplied by the Department, and pays the required fee,
and
who | ||||||
12 | holds a valid unrevoked
license or permit to practice as a | ||||||
13 | licensed certified public accountant
issued under the laws of
| ||||||
14 | any other state or territory of the United States or the | ||||||
15 | District of Columbia,
provided:
| ||||||
16 | (1) the individual applicant is determined by the | ||||||
17 | Department
Board
to possess
personal qualifications | ||||||
18 | substantially equivalent to this State's current
licensing | ||||||
19 | requirements;
| ||||||
20 | (2) at the time the applicant received his or her | ||||||
21 | current valid and
unrevoked license or permit, the | ||||||
22 | applicant possessed qualifications
substantially | ||||||
23 | equivalent to the qualifications for licensure then in | ||||||
24 | effect in
this State; or
| ||||||
25 | (3) the applicant has, after passing the examination | ||||||
26 | upon which his or her
license or other permit to practice | ||||||
27 | was based, not less than 4 years of
experience in the | ||||||
28 | practice of public accounting within the 10 years | ||||||
29 | immediately
before the application.
| ||||||
30 | (b) In determining the substantial equivalency of any
| ||||||
31 | state's requirements to Illinois' requirements, the
Department
| ||||||
32 | Board may rely on the determinations of the National
| ||||||
33 | Qualification Appraisal Service of the National Association
of | ||||||
34 | State Boards of Accountancy or such other qualification
| ||||||
35 | appraisal service as it deems appropriate.
|
| |||||||
| |||||||
1 | (c) Applicants have 3 years from the date of application to | ||||||
2 | complete the application process. If the process has not been | ||||||
3 | completed in 3 years, the application shall be denied, the fee | ||||||
4 | shall be forfeited, and the applicant must reapply and meet the | ||||||
5 | requirements in effect at the time of reapplication.
| ||||||
6 | (Source: P.A. 91-508, eff. 8-13-99; 91-779, eff. 6-9-00; | ||||||
7 | 92-457, eff.
7-1-04.)
| ||||||
8 | (225 ILCS 450/14.3)
| ||||||
9 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
10 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
11 | Sec. 14.3. Additional requirements for firms. In
addition | ||||||
12 | to the ownership requirements set forth in subsection (b) of | ||||||
13 | Section
14, all firms licensed under this Act shall meet the
| ||||||
14 | following requirements:
| ||||||
15 | (a) All owners of the firm , whether licensed or not,
who | ||||||
16 | are not licensed shall
be active participants in the firm or | ||||||
17 | its affiliated
entities.
| ||||||
18 | (b) An individual who supervises services for which a
| ||||||
19 | license is required under Section 8 of this Act or who signs
or | ||||||
20 | authorizes another to sign any report for which a license
is | ||||||
21 | required under Section 8 of this Act shall hold a valid,
| ||||||
22 | unrevoked Licensed Certified Public Accountant license from | ||||||
23 | this State or another state and shall comply with such
| ||||||
24 | additional experience requirements as may be required by rule
| ||||||
25 | of the Board.
| ||||||
26 | (c) The firm shall require that all owners of the
firm, | ||||||
27 | whether or not certified or licensed under this Act,
comply | ||||||
28 | with rules promulgated under this Act.
| ||||||
29 | (d) The firm shall designate to the Department
Board in
| ||||||
30 | writing an individual licensed under this Act who shall be
| ||||||
31 | responsible for the proper registration of the firm.
| ||||||
32 | (e) Applicants have 3 years from the date of application to | ||||||
33 | complete the application process. If the process has not been | ||||||
34 | completed in 3 years, the application shall be denied, the fee | ||||||
35 | shall be forfeited, and the applicant must reapply and meet the |
| |||||||
| |||||||
1 | requirements in effect at the time of reapplication.
| ||||||
2 | (Source: P.A. 91-508, eff. 8-13-99; 92-457, eff. 7-1-04.)
| ||||||
3 | (225 ILCS 450/16) (from Ch. 111, par. 5517)
| ||||||
4 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
5 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
6 | Sec. 16. Expiration and renewal of licenses; renewal of | ||||||
7 | registration;
continuing education.
| ||||||
8 | (a) The expiration date and renewal period for each license
| ||||||
9 | issued under this Act shall be set by rule.
| ||||||
10 | (b) Every holder of a license or registration under this | ||||||
11 | Act may renew such license or registration before the | ||||||
12 | expiration date upon payment of the required renewal fee as set | ||||||
13 | by rule.
| ||||||
14 | (c) Every application for renewal of a license by a | ||||||
15 | licensed certified public accountant who has been licensed | ||||||
16 | under this Act for 3 years or more shall be accompanied or | ||||||
17 | supported by any evidence the Department shall prescribe, in | ||||||
18 | satisfaction of completing, each 3 years, not less than 120 | ||||||
19 | hours of continuing professional education programs in | ||||||
20 | subjects given by continuing education sponsors registered by | ||||||
21 | the Department upon recommendation of the Committee. Of the 120 | ||||||
22 | hours, not less than 4 hours shall be courses covering the | ||||||
23 | subject of professional ethics. All continuing education | ||||||
24 | sponsors applying to the Department for registration shall be | ||||||
25 | required to submit an initial nonrefundable application fee set | ||||||
26 | by Department rule. Each registered continuing education | ||||||
27 | sponsor shall be required to pay an annual renewal fee set by | ||||||
28 | Department rule. Publicly supported colleges, universities, | ||||||
29 | and governmental agencies located in Illinois are exempt from | ||||||
30 | payment of any fees required for continuing education sponsor | ||||||
31 | registration. Failure by a continuing education sponsor to be | ||||||
32 | licensed or pay the fees prescribed in this Act, or to comply | ||||||
33 | with the rules and regulations established by the Department | ||||||
34 | under this Section regarding requirements for continuing | ||||||
35 | education courses or sponsors, shall constitute grounds for |
| |||||||
| |||||||
1 | revocation or denial of renewal of the sponsor's registration. | ||||||
2 | (d) Licensed Certified Public Accountants are exempt from | ||||||
3 | the continuing professional education requirement for the | ||||||
4 | first renewal period following the original issuance of the | ||||||
5 | license. | ||||||
6 | Notwithstanding the provisions of this subsection (c), the | ||||||
7 | Department may accept courses and sponsors approved by other | ||||||
8 | states, by the American Institute of Certified Public | ||||||
9 | Accountants, by other state CPA societies, or by national | ||||||
10 | accrediting organizations such as the National Association of | ||||||
11 | State Boards of Accountancy. | ||||||
12 | Failure by an applicant for renewal of a license as a | ||||||
13 | licensed certified public accountant to furnish the evidence | ||||||
14 | shall constitute grounds for disciplinary action, unless the | ||||||
15 | Department in its discretion shall determine the failure to | ||||||
16 | have been due to reasonable cause. The Department, in its | ||||||
17 | discretion, may renew a license despite failure to furnish | ||||||
18 | evidence of satisfaction of requirements of continuing | ||||||
19 | education upon condition that the applicant follow a particular | ||||||
20 | program or schedule of continuing education. In issuing rules | ||||||
21 | and individual orders in respect of requirements of continuing | ||||||
22 | education, the Department in its discretion may, among other | ||||||
23 | things, use and rely upon guidelines and pronouncements of | ||||||
24 | recognized educational and professional associations; may | ||||||
25 | prescribe rules for the content, duration, and organization of | ||||||
26 | courses; shall take into account the accessibility to | ||||||
27 | applicants of such continuing education as it may require, and | ||||||
28 | any impediments to interstate practice of public accounting | ||||||
29 | that may result from differences in requirements in other | ||||||
30 | states; and may provide for relaxation or suspension of | ||||||
31 | requirements in regard to applicants who certify that they do | ||||||
32 | not intend to engage in the practice of public accounting, and | ||||||
33 | for instances of individual hardship. | ||||||
34 | The Department shall establish by rule a means for the | ||||||
35 | verification of completion of the continuing education | ||||||
36 | required by this Section. This verification may be accomplished |
| |||||||
| |||||||
1 | through audits of records maintained by licensees; by requiring | ||||||
2 | the filing of continuing education certificates with the | ||||||
3 | Department; or by other means established by the Department. | ||||||
4 | The Department may establish, by rule, guidelines for | ||||||
5 | acceptance of continuing education on behalf of licensed | ||||||
6 | certified public accountants taking continuing education | ||||||
7 | courses in other jurisdictions.
| ||||||
8 | (b) Every application for renewal of a license by any | ||||||
9 | person who has been
licensed under this Act for 3 years or more | ||||||
10 | shall be accompanied or supported
by any evidence the Board | ||||||
11 | shall prescribe, in satisfaction
of completing,
each 3 years, | ||||||
12 | not less than 120 hours of qualifying continuing professional
| ||||||
13 | education
programs. Applications
for renewal by any person who | ||||||
14 | has been licensed less than 3 years shall
be accompanied or | ||||||
15 | supported by evidence of completion of 20 hours of
qualifying | ||||||
16 | continuing professional education programs for each full 6
| ||||||
17 | months since the date of licensure or last renewal. Qualifying
| ||||||
18 | continuing education programs include those given by | ||||||
19 | continuing
education sponsors registered with the Board, those | ||||||
20 | given by the
American Institute of CPAs, the Illinois CPA | ||||||
21 | Foundation, and programs
given by sponsors approved by national | ||||||
22 | accrediting organizations
approved by the Board. All | ||||||
23 | continuing education
sponsors applying to the Board for | ||||||
24 | registration shall be
required to
submit an initial | ||||||
25 | nonrefundable application fee set by Board
rule. Each | ||||||
26 | registered continuing education sponsor shall be required to | ||||||
27 | pay an
annual renewal fee set by Board rule. Publicly supported
| ||||||
28 | colleges,
universities, and governmental agencies located in | ||||||
29 | Illinois are exempt from
payment of any fees required for | ||||||
30 | continuing education sponsor registration.
Failure by a | ||||||
31 | continuing education sponsor to pay the fees
prescribed in this | ||||||
32 | Act, or to comply with the rules and regulations established
by | ||||||
33 | the Board under this Section regarding requirements for
| ||||||
34 | continuing
education courses or sponsors, shall constitute | ||||||
35 | grounds for revocation or
denial of renewal of the sponsor's | ||||||
36 | registration.
All other
courses or programs may qualify upon |
| |||||||
| |||||||
1 | presentation by the licensee of
evidence satisfactory to the | ||||||
2 | Board that the course or program meets all
Board rules for | ||||||
3 | qualifying education programs.
| ||||||
4 | Failure by an applicant for renewal of a license
to
furnish | ||||||
5 | the evidence shall constitute grounds for disciplinary action, | ||||||
6 | unless
the Board in its discretion shall determine the failure | ||||||
7 | to
have been due
to reasonable cause. The Board, in its | ||||||
8 | discretion, may
renew a license
despite failure to furnish | ||||||
9 | evidence of satisfaction of requirements of
continuing | ||||||
10 | education upon condition that the applicant follow a particular
| ||||||
11 | program or schedule of continuing education. In issuing rules, | ||||||
12 | regulations,
and individual orders in respect of requirements | ||||||
13 | of continuing education, the
Board in its discretion may, among | ||||||
14 | other things, use and
rely upon
guidelines and pronouncements | ||||||
15 | of recognized educational and professional
associations; may | ||||||
16 | prescribe rules for content, duration, and organization
of | ||||||
17 | courses;
shall take into account the accessibility to | ||||||
18 | applicants of continuing education
as it may require, and any | ||||||
19 | impediments to interstate practice of public
accounting that | ||||||
20 | may result from differences in requirements in other states;
| ||||||
21 | and may provide for relaxation or suspension of requirements in | ||||||
22 | regard to
applicants who certify that they do not intend to | ||||||
23 | engage in the practice of
public accounting, and for instances | ||||||
24 | of individual hardship.
| ||||||
25 | The Board shall establish by rule a means for the
| ||||||
26 | verification of
completion of the continuing education | ||||||
27 | required by this Section. This
verification may be accomplished | ||||||
28 | through audits of records maintained by
registrants; by | ||||||
29 | requiring the filing of continuing education certificates
with | ||||||
30 | the Board; or by other means established by the
Board.
| ||||||
31 | The Board may establish, by rule, guidelines for
acceptance | ||||||
32 | of
continuing education on behalf of licensed certified public | ||||||
33 | accountants
taking continuing education courses in other | ||||||
34 | jurisdictions.
| ||||||
35 | (Source: P.A. 92-457, eff. 7-1-04.)
|
| |||||||
| |||||||
1 | (225 ILCS 450/17) (from Ch. 111, par. 5518)
| ||||||
2 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
3 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
4 | Sec. 17. Fees; returned checks; fines. Each person, | ||||||
5 | partnership, limited
liability company, and corporation, to | ||||||
6 | which a license or registration is issued, shall pay
a fee to | ||||||
7 | be established by the Department
Board which allows the | ||||||
8 | Department
Board to pay all
costs and expenses incident to the | ||||||
9 | administration of this Act. Interim
licenses shall be at full | ||||||
10 | rates.
| ||||||
11 | The Department
Board , by rule, shall establish fees to be | ||||||
12 | paid for certification
of records, and copies of this Act and | ||||||
13 | the rules issued for administration
of this Act.
| ||||||
14 | Any person who delivers a check or other payment to the | ||||||
15 | Department
Board that is
returned to the Department
Board
| ||||||
16 | unpaid by the financial institution upon which it is
drawn | ||||||
17 | shall pay to the Department
Board , in addition to the amount | ||||||
18 | already owed to the
Department
Board , a fine of $50
in an | ||||||
19 | amount to be established by Board rule .
The fines imposed by | ||||||
20 | this Section are in addition to any other discipline
provided | ||||||
21 | under this Act for unlicensed practice or practice on a | ||||||
22 | nonrenewed
license or registration . The Department
Board shall | ||||||
23 | notify the person that payment of fees and fines
shall be paid | ||||||
24 | to the Department
Board by certified check or money order | ||||||
25 | within 30 calendar
days of the notification. If, after the | ||||||
26 | expiration of 30 days from the date
of the notification, the | ||||||
27 | person has failed to submit the necessary remittance,
the | ||||||
28 | Department
Board
shall automatically terminate the license or | ||||||
29 | registration
certificate or deny the
application, without | ||||||
30 | hearing. If, after termination or denial, the person
seeks a | ||||||
31 | license or registration
certificate , he or she shall apply to | ||||||
32 | the Department
Board for
restoration or issuance of the license | ||||||
33 | or registration
certificate and pay all fees and
fines due to | ||||||
34 | the Department
Board . The Department
Board may establish
a fee | ||||||
35 | for the processing of an application for restoration of a | ||||||
36 | license or
registration
certificate to pay all expenses of |
| |||||||
| |||||||
1 | processing this application. The Department
Board
may waive the | ||||||
2 | fines due under this Section in individual cases where the
| ||||||
3 | Department
Board
finds that the fines would be unreasonable or | ||||||
4 | unnecessarily burdensome.
| ||||||
5 | (Source: P.A. 92-146, eff. 1-1-02; 92-457, eff. 7-1-04; 92-651, | ||||||
6 | eff.
7-11-02.)
| ||||||
7 | (225 ILCS 450/17.1) (from Ch. 111, par. 5518.1)
| ||||||
8 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
9 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
10 | Sec. 17.1. Any registered certified public accountant who | ||||||
11 | has permitted his or her registration to expire or who has had | ||||||
12 | his or her registration on inactive status may have his or her | ||||||
13 | registration restored by making application to the Department | ||||||
14 | and filing proof acceptable to the Department as defined by | ||||||
15 | rule of his or her fitness to have his or her registration | ||||||
16 | restored, which may include sworn evidence certifying to active | ||||||
17 | practice in another jurisdiction satisfactory to the | ||||||
18 | Department and by paying the required restoration fee.
| ||||||
19 | Any licensed certified public accountant who has permitted
| ||||||
20 | his or her license to expire
or who has had his or her license | ||||||
21 | on inactive status may have his or her license restored
by | ||||||
22 | making application to the Department
Board and filing proof
| ||||||
23 | acceptable to the
Department as defined by rule
Board of his or | ||||||
24 | her fitness to have his or her license restored, including
| ||||||
25 | sworn
evidence certifying to active practice in another | ||||||
26 | jurisdiction satisfactory
to the Department
Board and by paying | ||||||
27 | the required restoration fee
and by submitting proof of the
| ||||||
28 | required continuing education.
| ||||||
29 | If the licensed certified public accountant or registered | ||||||
30 | certified public accountant has not maintained an active
| ||||||
31 | practice in another
jurisdiction satisfactory to the | ||||||
32 | Department
Board , the Department
Board shall determine,
by an | ||||||
33 | evaluation program established by rule, fitness to resume | ||||||
34 | active status
and may require the applicant to complete a | ||||||
35 | period of supervised auditing
experience.
|
| |||||||
| |||||||
1 | However, any licensed certified public accountant or | ||||||
2 | registered certified public accountant whose license or | ||||||
3 | registration expired
while he was (1) in
Federal Service on | ||||||
4 | active duty with the Armed Forces of the United States,
or the | ||||||
5 | State Militia called into service or training, or (2) in | ||||||
6 | training
or education under the supervision of the United | ||||||
7 | States preliminary to
induction
into the military service, may | ||||||
8 | have his license or registration renewed reinstated or restored
| ||||||
9 | without
paying any lapsed renewal and restoration fees if | ||||||
10 | within 2 years after
honorable termination
of such service, | ||||||
11 | training or education except under conditions other than
| ||||||
12 | honorable, he furnished
the Department
Board with satisfactory | ||||||
13 | evidence to the effect that he
has been
so engaged and that his | ||||||
14 | service, training or education has been so terminated.
| ||||||
15 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
16 | (225 ILCS 450/17.2) (from Ch. 111, par. 5518.2)
| ||||||
17 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
18 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
19 | Sec. 17.2. Inactive status. Any licensed certified public | ||||||
20 | accountant or Registered Certified Public Accountant who | ||||||
21 | notifies the
Department
Board in writing
on forms prescribed by | ||||||
22 | the Department
Board , may elect to place his
license or | ||||||
23 | registration on
an inactive status and shall, subject to rules | ||||||
24 | of the Department
Board ,
be excused
from payment of renewal | ||||||
25 | fees until he notifies the Department
Board in
writing
of his | ||||||
26 | desire to resume active status.
| ||||||
27 | Any licensed certified public accountant requesting | ||||||
28 | restoration from
inactive status shall
be required to pay the | ||||||
29 | current renewal fee, shall be required to submit
proof of the | ||||||
30 | required continuing education,
and shall be required to restore
| ||||||
31 | his license, as provided in this Act.
| ||||||
32 | Any Registered Certified Public Accountant requesting | ||||||
33 | restoration from inactive status shall be required to pay the | ||||||
34 | current renewal fee and shall be required to comply with any | ||||||
35 | requirements established by rule.
|
| |||||||
| |||||||
1 | Any licensed certified public accountant whose license is | ||||||
2 | in an inactive
status shall not
practice public accounting in | ||||||
3 | this State of Illinois.
| ||||||
4 | Any Registered Certified Public Accountant whose | ||||||
5 | registration is in an inactive status shall not in any manner | ||||||
6 | hold himself or herself out to the public as a C.P.A. or | ||||||
7 | R.C.P.A.
| ||||||
8 | The Department
Board may, in its discretion, license as a | ||||||
9 | licensed
certified public accountant,
on payment of the | ||||||
10 | required fee, an applicant who is a licensed certified
public | ||||||
11 | accountant
licensed under the laws of another jurisdiction if | ||||||
12 | the requirements for
licensure of licensed certified public | ||||||
13 | accountants in the jurisdiction in
which the applicant
was | ||||||
14 | licensed were, at the date of his licensure, substantially | ||||||
15 | equivalent
to the requirements in force in this State on that | ||||||
16 | date.
| ||||||
17 | Applicants have 3 years from the date of application to | ||||||
18 | complete the
application process. If the process has not been | ||||||
19 | completed in 3 years,
the application shall be denied, the fee | ||||||
20 | forfeited and the applicant must
reapply and meet the | ||||||
21 | requirements in effect at the time of reapplication.
| ||||||
22 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
23 | (225 ILCS 450/19) (from Ch. 111, par. 5520)
| ||||||
24 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
25 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
26 | Sec. 19. Hearings. The Committee established under the | ||||||
27 | provisions of Section 2.05 shall, upon designation by the | ||||||
28 | Director
The Board, or a committee thereof , shall hear charges
| ||||||
29 | which, if proved,
would constitute grounds for disciplinary | ||||||
30 | action; shall hear applications for
restoration of a license | ||||||
31 | and the issuance of a license or registration
registration
| ||||||
32 | cards as a licensed certified public
accountant or registered | ||||||
33 | certified public accountant
accountants of any person, | ||||||
34 | partnership, limited liability company, or
corporation whose | ||||||
35 | license or registration has been suspended or revoked; and
|
| |||||||
| |||||||
1 | shall report its
findings and recommendations in connection | ||||||
2 | therewith to the Director
Board , all as
provided in Section | ||||||
3 | 20.01.
| ||||||
4 | The Department
Board shall also
have power to
promulgate | ||||||
5 | and amend rules of professional conduct that shall apply to
| ||||||
6 | persons registered
certified or licensed under this Act.
| ||||||
7 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
8 | (225 ILCS 450/20.01) (from Ch. 111, par. 5521.01)
| ||||||
9 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
10 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
11 | Sec. 20.01. Grounds for discipline; license or | ||||||
12 | registration .
| ||||||
13 | (a) The Department
Board may refuse to issue or renew, or | ||||||
14 | may revoke, suspend, or
reprimand any license or licensee, | ||||||
15 | place a licensee or registrant on probation for a period
of | ||||||
16 | time subject to any conditions the Department
Board may specify | ||||||
17 | including requiring
the licensee or registrant to attend | ||||||
18 | continuing education courses or to work under the
supervision | ||||||
19 | of another licensee or registrant , impose a fine not to exceed | ||||||
20 | $5,000 for each
violation, restrict the authorized scope of | ||||||
21 | practice, or require a licensee
or registrant to undergo a peer | ||||||
22 | review program, for any one or more of the following:
| ||||||
23 | (1) Violation of any provision of this Act.
| ||||||
24 | (2) Attempting to procure a license or registration to | ||||||
25 | practice under this Act
public accounting by
bribery or | ||||||
26 | fraudulent misrepresentations.
| ||||||
27 | (3) Having a license to practice public accounting or | ||||||
28 | registration revoked, suspended,
or otherwise acted | ||||||
29 | against, including the denial of licensure or | ||||||
30 | registration , by the licensing or registering
authority of | ||||||
31 | another state, territory, or country, including but not | ||||||
32 | limited to the District of Columbia, or any United States
| ||||||
33 | territory. No disciplinary action shall be taken in | ||||||
34 | Illinois if the action
taken in another jurisdiction was | ||||||
35 | based upon failure to meet the continuing
professional |
| |||||||
| |||||||
1 | education requirements of that jurisdiction and the | ||||||
2 | applicable
Illinois continuing professional education | ||||||
3 | requirements are met.
| ||||||
4 | (4) Being convicted or found guilty, regardless of | ||||||
5 | adjudication, of a
crime in any jurisdiction which directly | ||||||
6 | relates to the practice of public
accounting or the ability | ||||||
7 | to practice public accounting or as a Registered Certified | ||||||
8 | Public Accountant .
| ||||||
9 | (5) Making or filing a report or record which the | ||||||
10 | registrant or licensee knows to
be false, willfully failing | ||||||
11 | to file a report or record required by state
or federal | ||||||
12 | law, willfully impeding or obstructing the filing, or | ||||||
13 | inducing
another person to impede or obstruct the filing. | ||||||
14 | The reports or records shall
include only those that are | ||||||
15 | signed in the capacity of a licensed certified
public | ||||||
16 | accountant or a registered certified public accountant .
| ||||||
17 | (6) Conviction in this or another State or the District | ||||||
18 | of Columbia, or
any United States Territory, of any crime | ||||||
19 | that is punishable by one year or
more in prison or | ||||||
20 | conviction of a crime in a federal court that is punishable
| ||||||
21 | by one year or more in prison.
| ||||||
22 | (7) Proof that the licensee or registrant is guilty of | ||||||
23 | fraud or deceit, or of gross
negligence, incompetency, or | ||||||
24 | misconduct, in the practice of public
accounting.
| ||||||
25 | (8) Violation of any rule adopted under this Act.
| ||||||
26 | (9) Practicing on a revoked, suspended, or inactive | ||||||
27 | license or registration .
| ||||||
28 | (10) Suspension or revocation of the right to practice | ||||||
29 | before any
state or federal agency.
| ||||||
30 | (11) Conviction of any crime under the laws of the | ||||||
31 | United States or any
state or territory of the United | ||||||
32 | States that is a felony or misdemeanor and
has dishonesty | ||||||
33 | as an essential element, or of any crime that is directly
| ||||||
34 | related to the practice of the profession.
| ||||||
35 | (12) Making any misrepresentation for the purpose of | ||||||
36 | obtaining a license,
or registration or material |
| |||||||
| |||||||
1 | misstatement in furnishing information to the Department
| ||||||
2 | Board .
| ||||||
3 | (13) Aiding or assisting another person in violating | ||||||
4 | any provision of
this Act or rules promulgated hereunder.
| ||||||
5 | (14) Engaging in dishonorable, unethical, or | ||||||
6 | unprofessional conduct of a
character likely to deceive, | ||||||
7 | defraud, or harm the public and violating the
rules of | ||||||
8 | professional conduct adopted by the Department
Board .
| ||||||
9 | (15) Habitual or excessive use or addiction to alcohol, | ||||||
10 | narcotics,
stimulants, or any other chemical agent or drug | ||||||
11 | that results in the inability
to practice with reasonable | ||||||
12 | skill, judgment, or safety.
| ||||||
13 | (16) Directly or indirectly giving to or receiving from | ||||||
14 | any person, firm,
corporation, partnership, or association | ||||||
15 | any fee, commission, rebate, or other
form of compensation | ||||||
16 | for any professional service not actually rendered.
| ||||||
17 | (17) Physical or mental disability, including | ||||||
18 | deterioration through the
aging process or loss of | ||||||
19 | abilities and skills that results in the inability to
| ||||||
20 | practice the profession with reasonable judgment, skill or | ||||||
21 | safety.
| ||||||
22 | (18) Solicitation of professional services by using | ||||||
23 | false or misleading
advertising.
| ||||||
24 | (19) Failure to file a return, or pay the tax, penalty | ||||||
25 | or interest shown
in a filed return, or to pay any final | ||||||
26 | assessment of tax, penalty or interest,
as required by any | ||||||
27 | tax Act administered by the Illinois Department of Revenue
| ||||||
28 | or any successor agency or the Internal Revenue Service or | ||||||
29 | any successor
agency.
| ||||||
30 | (20) Practicing or attempting to practice under a name | ||||||
31 | other than the
full name as shown on the license or | ||||||
32 | registration or any other legally authorized name.
| ||||||
33 | (21) A finding by the Department
Board that a licensee | ||||||
34 | or registrant has not complied with a
provision of any | ||||||
35 | lawful order issued by the Department
Board .
| ||||||
36 | (22) Making a false statement to the Department
Board
|
| |||||||
| |||||||
1 | regarding compliance with
continuing professional | ||||||
2 | education requirements.
| ||||||
3 | (23) Failing to make a substantive response to a | ||||||
4 | request for information
by the Department
Board within 30 | ||||||
5 | days of the request.
| ||||||
6 | (b) (Blank).
| ||||||
7 | (c) In rendering an order, the Department
Board shall take | ||||||
8 | into consideration
the facts and circumstances involving the | ||||||
9 | type of acts or omissions in
subsection (a) including, but not | ||||||
10 | limited to:
| ||||||
11 | (1) the extent to which public confidence in the public | ||||||
12 | accounting
profession was, might have been, or may be | ||||||
13 | injured;
| ||||||
14 | (2) the degree of trust and dependence among the | ||||||
15 | involved parties;
| ||||||
16 | (3) the character and degree of financial or economic | ||||||
17 | harm which did or
might have resulted; and
| ||||||
18 | (4) the intent or mental state of the person charged at | ||||||
19 | the time of the
acts or omissions.
| ||||||
20 | (d) The Department
Board shall reissue the license or | ||||||
21 | registration upon a showing that the disciplined
licensee or | ||||||
22 | registrant has complied with all of the terms and conditions | ||||||
23 | set forth in the
final order.
| ||||||
24 | (e) The Department
Board shall deny any application for a | ||||||
25 | license , registration, or renewal,
without hearing, to any | ||||||
26 | person who has defaulted on an educational loan
guaranteed by | ||||||
27 | the Illinois Student Assistance Commission; however, the
| ||||||
28 | Department
Board
may issue a license , registration, or renewal | ||||||
29 | if the person in default has
established a satisfactory | ||||||
30 | repayment record as determined by the Illinois
Student | ||||||
31 | Assistance Commission.
| ||||||
32 | (f) The determination by a court that a licensee or | ||||||
33 | registrant is subject to involuntary
admission or judicial | ||||||
34 | admission as provided in the Mental Health and
Developmental | ||||||
35 | Disabilities Code will result in the automatic suspension of | ||||||
36 | his
or her license or registration . The licensee or registrant |
| |||||||
| |||||||
1 | shall be responsible for notifying the Department of the | ||||||
2 | determination by the court that the licensee or registrant is | ||||||
3 | subject to involuntary admission or judicial admission as | ||||||
4 | provided in the Mental Health and Developmental Disabilities | ||||||
5 | Code. The licensee or registrant shall also notify the | ||||||
6 | Department upon discharge so that a determination may be made | ||||||
7 | under item (17) of subsection (a) whether the licensee or | ||||||
8 | registrant may resume practice
The suspension will end upon a | ||||||
9 | finding by a court that the
licensee is no longer subject to | ||||||
10 | involuntary admission or judicial admission
and the issuance of | ||||||
11 | an order so finding and discharging the
patient .
| ||||||
12 | (Source: P.A. 92-457, eff. 7-1-04; 93-629, eff. 12-23-03.)
| ||||||
13 | (225 ILCS 450/20.1) (from Ch. 111, par. 5522)
| ||||||
14 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
15 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
16 | Sec. 20.1. Investigations; notice; hearing. The Department
| ||||||
17 | Board
may, upon
its own motion, and shall, upon the
verified | ||||||
18 | complaint in writing of any person setting forth facts which, | ||||||
19 | if
proved, would constitute grounds for disciplinary action
as | ||||||
20 | set forth in Section 20.01, investigate the actions of any
| ||||||
21 | person or entity. The
Department
Board may refer complaints and | ||||||
22 | investigations to a
disciplinary body
of the accounting | ||||||
23 | profession for technical assistance. The results of
an | ||||||
24 | investigation and recommendations of the disciplinary body
may | ||||||
25 | be considered
by the Department
Board , but shall not be | ||||||
26 | considered determinative and
the Department
Board
shall not in | ||||||
27 | any way be obligated to take any action or be bound by the
| ||||||
28 | results of the accounting profession's disciplinary | ||||||
29 | proceedings. The
Department
Board , before taking disciplinary | ||||||
30 | action, shall afford the
concerned
party or parties an | ||||||
31 | opportunity to request a hearing and if so requested
shall set | ||||||
32 | a time and place for a hearing of the complaint. The
Department
| ||||||
33 | Board shall notify the
applicant or the licensed or registered
| ||||||
34 | person or entity of any
charges made and the date and place of | ||||||
35 | the hearing of those charges by
mailing notice thereof to that |
| |||||||
| |||||||
1 | person or entity by
registered or certified mail to the place | ||||||
2 | last specified by the
accused person or entity in the last
| ||||||
3 | notification to the
Department
Board , at least 30 days prior to | ||||||
4 | the date set for the
hearing or by
serving a written notice by | ||||||
5 | delivery of the notice to the accused
person or entity at least | ||||||
6 | 15 days prior to
the date set
for the hearing, and shall
direct | ||||||
7 | the applicant or licensee or registrant to file a written
| ||||||
8 | answer to the Department
Board
under oath within 20 days after | ||||||
9 | the service of the notice and inform the
applicant or licensee | ||||||
10 | or registrant that failure to file an answer
will result in | ||||||
11 | default
being taken against the applicant or licensee or | ||||||
12 | registrant and that
the license or registration
or
certificate
| ||||||
13 | may be
suspended, revoked, placed on probationary status, or | ||||||
14 | other disciplinary
action may be taken, including limiting the | ||||||
15 | scope, nature or extent of
practice, as the Director
Board may | ||||||
16 | deem proper.
In case the person fails to file an answer after | ||||||
17 | receiving notice, his or
her license or registration
or | ||||||
18 | certificate may, in the discretion of the Department
Board , be
| ||||||
19 | suspended, revoked, or placed on probationary status, or the | ||||||
20 | Department
Board may
take whatever disciplinary action deemed | ||||||
21 | proper, including limiting the
scope, nature, or extent of the | ||||||
22 | person's practice or the imposition of a
fine, without a | ||||||
23 | hearing, if the act or acts charged constitute sufficient
| ||||||
24 | grounds for such action under this Act.
The Department
Board
| ||||||
25 | shall afford the accused person or entity an
opportunity to be | ||||||
26 | heard
in person or by counsel at the hearing. At
Following the | ||||||
27 | conclusion of
the hearing
the Committee
Board shall present to | ||||||
28 | the Director
issue a
written report
order setting forth its | ||||||
29 | finding
of facts, conclusions of law, and recommendations
| ||||||
30 | penalties to be imposed . The report
order shall contain
a | ||||||
31 | finding whether or not the accused person violated this Act or | ||||||
32 | failed to
comply with the conditions required in this Act. If | ||||||
33 | the Director disagrees in any regard with the report, he or she | ||||||
34 | may issue an order in contravention of the report. The Director | ||||||
35 | shall provide a written explanation to the Committee of any | ||||||
36 | such deviations and shall specify with particularity the |
| |||||||
| |||||||
1 | reasons for the deviations.
| ||||||
2 | The finding is not admissible in evidence against the | ||||||
3 | person in a criminal
prosecution brought for the violation of | ||||||
4 | this Act, but the hearing and
findings are not a bar to a | ||||||
5 | criminal prosecution brought for the violation
of this Act.
| ||||||
6 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
7 | (225 ILCS 450/20.2) (from Ch. 111, par. 5523)
| ||||||
8 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
9 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
10 | Sec. 20.2. The Department
Board may subpoena and bring | ||||||
11 | before it at any hearing any
person in this
State and take | ||||||
12 | testimony either orally or by
deposition, or both, with the | ||||||
13 | same fees and mileage and in the same
manner as prescribed by | ||||||
14 | law in judicial proceedings in
civil cases in circuit
courts of | ||||||
15 | this State.
| ||||||
16 | The Director, any member of the Committee designated by the | ||||||
17 | Director, or any hearing officer appointed may administer oaths | ||||||
18 | to witnesses at any hearing which the Department is authorized | ||||||
19 | by law to conduct or any other oaths required or authorized in | ||||||
20 | any Act administered by the Department.
| ||||||
21 | The Chairman of the Board, or
any member of the Board | ||||||
22 | designated by the Chairman, or any
hearing officer appointed | ||||||
23 | pursuant to Section 20.6, may
administer
oaths to witnesses at | ||||||
24 | any hearing which the Board is
authorized by
law to conduct, | ||||||
25 | and any other oaths required or authorized in any Act
| ||||||
26 | administered by the Board.
| ||||||
27 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
28 | (225 ILCS 450/20.3) (from Ch. 111, par. 5524)
| ||||||
29 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
30 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
31 | Sec. 20.3. Any circuit court in the State of Illinois,
upon | ||||||
32 | the application of the accused person, partnership or | ||||||
33 | corporation, of
the complainant or of the Department
Board , | ||||||
34 | may, by order duly entered,
require
the attendance of witnesses |
| |||||||
| |||||||
1 | and the production of relevant books and papers
before the | ||||||
2 | Department
Board at any hearing relative to a disciplinary
| ||||||
3 | action and
the court may compel obedience to the order by | ||||||
4 | proceedings for contempt.
| ||||||
5 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
6 | (225 ILCS 450/20.4) (from Ch. 111, par. 5525)
| ||||||
7 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
8 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
9 | Sec. 20.4. The Department
Board , at its expense, shall | ||||||
10 | provide a
stenographer to
take down the testimony and preserve | ||||||
11 | a record of all proceedings at
disciplinary
hearings. The | ||||||
12 | Department
Board shall furnish a transcript of that
record to
| ||||||
13 | any person interested in that hearing upon payment of the | ||||||
14 | reasonable cost
established by the Department
Board .
| ||||||
15 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
16 | (225 ILCS 450/20.5) (from Ch. 111, par. 5526)
| ||||||
17 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
18 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
19 | Sec. 20.5. Rehearing. In any disciplinary proceeding, a | ||||||
20 | copy of the
Committee's report
Board's order shall be served | ||||||
21 | upon the respondent by the Department ,
either personally or as | ||||||
22 | provided in this Act for the service of the notice of
hearing. | ||||||
23 | Within 20 days after such service, the respondent may present | ||||||
24 | to the
Department
Board a motion in writing for a rehearing, | ||||||
25 | which motion
shall specify the
particular grounds therefor. If | ||||||
26 | no motion for rehearing is filed, then upon
the expiration of | ||||||
27 | the time specified for filing such a motion, or if a motion
or | ||||||
28 | rehearing is denied, then upon such denial the Director may | ||||||
29 | enter an order in accordance with recommendations of the | ||||||
30 | Committee except as provided in Section 20.6
determination of | ||||||
31 | the Board
shall be final . If the respondent shall order from | ||||||
32 | the reporting
service, and pay for a transcript of the record | ||||||
33 | within the time for filing a
motion for rehearing, the 20 day | ||||||
34 | period within which such a motion may be filed
shall commence |
| |||||||
| |||||||
1 | upon the delivery of the transcript to the respondent.
| ||||||
2 | Whenever the Director is satisfied that substantial | ||||||
3 | justice has not been done in the disciplinary proceeding, the | ||||||
4 | Director may order a rehearing by the Committee or designated | ||||||
5 | hearing officer. The Director shall provide a written | ||||||
6 | explanation to the Committee of any deviation from the | ||||||
7 | recommendations of the Committee and shall specify with | ||||||
8 | particularity the reasons for the deviation.
| ||||||
9 | Upon the suspension or revocation of a registration
| ||||||
10 | certificate or license of a registrant or
the
licensee , the | ||||||
11 | registrant or licensee shall be required
to surrender to the | ||||||
12 | Department
Board the registration
certificate or license
| ||||||
13 | issued by the Department
Board , and upon
failure or refusal so | ||||||
14 | to do, the Department
Board may seize it.
| ||||||
15 | The Department
Board may exchange information relating to | ||||||
16 | proceedings
resulting
in disciplinary action against licensees | ||||||
17 | or registrants with the
regulatory bodies of other
states, or | ||||||
18 | with other public authorities or private organizations or with | ||||||
19 | federal authorities having
regulatory interest in such matter.
| ||||||
20 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
21 | (225 ILCS 450/20.6) (from Ch. 111, par. 5526.6)
| ||||||
22 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
23 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
24 | Sec. 20.6. Notwithstanding the provisions of Section 20.2 | ||||||
25 | of this Act,
the Director
Board shall have the authority to | ||||||
26 | appoint any attorney
duly licensed
to practice law in the State | ||||||
27 | of Illinois to serve as the hearing officer
in any disciplinary | ||||||
28 | action. The Director shall notify the Committee of such | ||||||
29 | appointment.
| ||||||
30 | The hearing officer shall have full authority to conduct | ||||||
31 | the hearing.
The hearing officer shall report his findings of | ||||||
32 | fact, conclusions of law
and recommendations to the Committee | ||||||
33 | and the Director. The Committee shall have 60 days after | ||||||
34 | receiving the report to review the report of the hearing | ||||||
35 | officer and present its findings of fact, conclusions of law, |
| |||||||
| |||||||
1 | and recommendations to the Director. If the Committee fails to | ||||||
2 | present its report within the 60-day period, the Director shall | ||||||
3 | issue an order based on the report of the hearing officer. If | ||||||
4 | the Director disagrees in any regard with the report of the | ||||||
5 | Committee or hearing officer, he or she may issue an order in | ||||||
6 | contravention thereof. The Director shall provide a written | ||||||
7 | explanation to the Committee of any such deviations and shall | ||||||
8 | specify with particularity the reasons for said action in the | ||||||
9 | final order.
Board. The
Board shall
have 60 days from receipt | ||||||
10 | of the report to review the report of the hearing
officer and | ||||||
11 | shall issue an order based on the report of
the hearing officer | ||||||
12 | unless it disagrees in any regard
with the report
of the | ||||||
13 | hearing officer, in which case it may issue
an order in | ||||||
14 | contravention
thereof, which order may require a new hearing as | ||||||
15 | to some or all of the facts
in dispute or may issue findings of | ||||||
16 | fact and conclusions of law contrary to
the findings and | ||||||
17 | conclusions of the hearing officer.
| ||||||
18 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
19 | (225 ILCS 450/21) (from Ch. 111, par. 5527)
| ||||||
20 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
21 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
22 | Sec. 21. Judicial review; cost of record; order as prima | ||||||
23 | facie proof.
| ||||||
24 | (a) All final administrative decisions of the
Department
| ||||||
25 | Board
hereunder shall
be subject to judicial review pursuant to | ||||||
26 | the provisions of the Administrative
Review Law, and all | ||||||
27 | amendments and modifications thereof, and the rules adopted
| ||||||
28 | pursuant thereto. The term "administrative decision" is | ||||||
29 | defined as in Section
3-101 of the Code of Civil Procedure.
| ||||||
30 | Proceedings for judicial review shall be commenced in the | ||||||
31 | Circuit
Court of the county in which the party applying for | ||||||
32 | review resides; provided,
that if such party is not a resident | ||||||
33 | of this State, the venue shall be in
Sangamon, Champaign, or | ||||||
34 | Cook County.
| ||||||
35 | (b) The Department
Board shall not be required to certify |
| |||||||
| |||||||
1 | any record
to the
court or file any answer in court or | ||||||
2 | otherwise appear in any court in a
judicial review proceeding, | ||||||
3 | unless there is filed in the court with the
complaint a receipt | ||||||
4 | from the Department
Board acknowledging payment of
the costs of
| ||||||
5 | furnishing and certifying the record, which costs shall be | ||||||
6 | established
by the Department
Board . Exhibits shall be | ||||||
7 | certified without cost.
Failure on the part of the plaintiff to | ||||||
8 | file such receipt in court shall be
grounds for dismissal of | ||||||
9 | the action.
| ||||||
10 | (c) An order of disciplinary action or a certified copy | ||||||
11 | thereof, over
the seal of the Department
Board and purporting | ||||||
12 | to be signed by the
Director
Chairman or authorized agent of | ||||||
13 | the Director
Board , shall be prima
facie
proof, subject to | ||||||
14 | being rebutted, that:
| ||||||
15 | (1) the signature is the genuine signature of the
| ||||||
16 | Director
Chairman or authorized agent of the Director
| ||||||
17 | Board ;
| ||||||
18 | (2) the Director
Chairman or authorized agent of the | ||||||
19 | Director
Board is duly
appointed and qualified;
and
| ||||||
20 | (3) the Committee
Board and the members thereof are | ||||||
21 | qualified
to act.
| ||||||
22 | (Source: P.A. 91-357, eff. 7-29-99; 92-457, eff. 7-1-04.)
| ||||||
23 | (225 ILCS 450/26) (from Ch. 111, par. 5532)
| ||||||
24 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
25 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
26 | Sec. 26. Rules and regulations. The Department and
Board | ||||||
27 | shall adopt
all
necessary and reasonable rules and regulations | ||||||
28 | for the effective administration
and enforcement of the | ||||||
29 | provisions of this Act; and without limiting the
foregoing the
| ||||||
30 | Board shall adopt and prescribe rules and regulations for a | ||||||
31 | fair
and wholly impartial method of determining the | ||||||
32 | qualifications of applicants for
examination and for a fair and | ||||||
33 | wholly impartial method of examination of
persons under this | ||||||
34 | Act
Section 2 and may establish rules for subjects conditioned | ||||||
35 | and
for the transfer of credits from other jurisdictions with |
| |||||||
| |||||||
1 | respect to subjects
passed.
All Department rules in effect on | ||||||
2 | the effective date
of this amendatory
Act of the 92nd General | ||||||
3 | Assembly shall continue in effect under
the jurisdiction of the
| ||||||
4 | Board until
changed by the Board.
| ||||||
5 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
6 | (225 ILCS 450/28) (from Ch. 111, par. 5534)
| ||||||
7 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
8 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
9 | Sec. 28. Penalties. Each of the following acts perpetrated | ||||||
10 | in the State
of Illinois is a Class B misdemeanor.
| ||||||
11 | (a) The practice of public accounting insofar as it | ||||||
12 | consists in
rendering service as described in Section 8, | ||||||
13 | without licensure, in
violation of the provisions of this | ||||||
14 | Act;
| ||||||
15 | (b) The obtaining or attempting to obtain licensure as | ||||||
16 | a licensed
certified public accountant
or registration as a | ||||||
17 | registered certified public accountant by fraud;
| ||||||
18 | (c) The use of the title "Certified Public Accountant" | ||||||
19 | or the abbreviation "C.P.A." or use of any similar words or | ||||||
20 | letters indicating the user is a certified public | ||||||
21 | accountant, the title "Registered Certified Public | ||||||
22 | Accountant", the abbreviation "R.C.P.A.", any similar | ||||||
23 | words or letters indicating the user is a certified public | ||||||
24 | accountant or a registered certified public accountant by | ||||||
25 | any person in contravention of this Act; | ||||||
26 | (c-5) The use of the title "Certified Public | ||||||
27 | Accountant" or "Licensed Certified Public Accountant" or | ||||||
28 | the abbreviation "C.P.A." or "L.C.P.A." or any similar | ||||||
29 | words or letters indicating the user is a certified public | ||||||
30 | accountant by any person in contravention with this Act;
| ||||||
31 | The use of the title
"Certified Public Accountant" or the
| ||||||
32 | abbreviation
"C.P.A." or any similar words or letters | ||||||
33 | indicating the user is a
certified public accountant, by | ||||||
34 | any person who has not received a
certificate as a | ||||||
35 | certified public accountant from the
Board;
|
| |||||||
| |||||||
1 | (d) The use of the title
"Certified Public Accountant" | ||||||
2 | or the
abbreviation "C.P.A." or any similar words or | ||||||
3 | letters indicating that the
members are certified public | ||||||
4 | accountants, by any partnership , limited liability | ||||||
5 | company, corporation, or other entity unless all
members | ||||||
6 | thereof personally engaged in the practice of public | ||||||
7 | accounting in
this State have received
certificates as
| ||||||
8 | certified public accountants from
the
Board,
are licensed | ||||||
9 | as licensed certified public
accountants by the
Department
| ||||||
10 | Board , and
are holders of an effective unrevoked license, | ||||||
11 | and the partnership , limited liability company, | ||||||
12 | corporation, or other entity
is licensed as licensed | ||||||
13 | certified public accountants by the
Board
with an effective
| ||||||
14 | unrevoked license;
| ||||||
15 | (e) The use of the title " Licensed Certified Public | ||||||
16 | Accountant",
licensed certified public accountant", | ||||||
17 | "licensed
CPA", "Public Accountant", or the abbreviation
| ||||||
18 | "L.C.P.A."
"P.A."
or any similar words or letters | ||||||
19 | indicating such person is a licensed
certified public
| ||||||
20 | accountant, by any person not licensed as a licensed | ||||||
21 | certified public
accountant by the
Department
Board , and | ||||||
22 | holding an effective unrevoked license; provided
nothing | ||||||
23 | in
this Act shall prohibit the use of the title | ||||||
24 | "Accountant" or "Bookkeeper" by
any person;
| ||||||
25 | (f) The use of the title "Licensed Certified Public | ||||||
26 | Accountants",
"Public
Accountants" or the abbreviation | ||||||
27 | "P.A.'s"
or any similar words or letters indicating that | ||||||
28 | the members are public
accountants by any partnership , | ||||||
29 | limited liability company, corporation, or other entity
| ||||||
30 | unless all members thereof personally
engaged in the | ||||||
31 | practice of public accounting in this State are licensed
as | ||||||
32 | licensed certified public accountants by the
Department
| ||||||
33 | Board
and are holders
of effective
unrevoked licenses, and | ||||||
34 | the partnership is licensed as a public
accounting
firm by
| ||||||
35 | the Department
Board with an effective unrevoked licenses;
| ||||||
36 | (g) Making false statements to the Department
Board
|
| |||||||
| |||||||
1 | regarding
compliance with
continuing professional | ||||||
2 | education requirements ; .
| ||||||
3 | (h) The use of the title "Certified Public Accountant" | ||||||
4 | or the abbreviation "C.P.A." or any similar words or | ||||||
5 | letters indicating that the members are certified public | ||||||
6 | accountants, by any partnership unless all members thereof | ||||||
7 | personally engaged in the practice of public accounting in | ||||||
8 | this State have received certificates as certified public | ||||||
9 | accountants from the Board, are licensed as public | ||||||
10 | accountants by the Department, and are holders of an | ||||||
11 | effective unrevoked license, and the partnership is | ||||||
12 | licensed as public accountants by the Department with an | ||||||
13 | effective unrevoked license. | ||||||
14 | This Section does not prohibit a firm partnership, limited | ||||||
15 | liability company, corporation, or other entity who does not | ||||||
16 | practice public accounting as set forth in Section 8 of this | ||||||
17 | Act and whose members residing in Illinois are registered with | ||||||
18 | the Department from using the title "Certified Public | ||||||
19 | Accountant" or the abbreviation "C.P.A." or "CPA" or similar | ||||||
20 | words or letters indicating that the members are certified | ||||||
21 | public accountants.
| ||||||
22 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
23 | (225 ILCS 450/30) (from Ch. 111, par. 5535)
| ||||||
24 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
25 | (Text of Section after amendment by P.A. 92-457 )
| ||||||
26 | Sec. 30. The practice of public accounting, as described in | ||||||
27 | Section 8 of
this Act, by any person in violation of this Act | ||||||
28 | is hereby declared to be
inimical to the public welfare and to | ||||||
29 | be a public nuisance. An action to
perpetually enjoin from such | ||||||
30 | unlawful practice any person who has been or
is engaged therein | ||||||
31 | may be maintained in the name of the people of the State
of | ||||||
32 | Illinois by the Attorney General of the State of Illinois, by | ||||||
33 | the
State's Attorney of any county in which the action is | ||||||
34 | brought, by the
Department
Board or by any resident citizen. | ||||||
35 | The injunction proceeding
shall be
in addition to and not in |
| |||||||
| |||||||
1 | lieu of any penalties or other remedies provided
by this Act. | ||||||
2 | No injunction shall issue under this section against any
person | ||||||
3 | for any act exempted under Section 11 of this Act.
| ||||||
4 | If any person shall practice as a licensed certified public | ||||||
5 | accountant or
a registered certified public accountant or hold | ||||||
6 | himself or herself out
as a licensed certified public | ||||||
7 | accountant or registered certified public accountant without | ||||||
8 | being licensed or registered under the
provision
of this
Act | ||||||
9 | then any licensed certified public accountant or registered | ||||||
10 | certified public accountant , any interested party or
any person
| ||||||
11 | injured thereby may, in addition to the Department
Board , | ||||||
12 | petition for
relief
as provided in subsection (a) of this | ||||||
13 | Section.
| ||||||
14 | Whenever in the opinion of the Department
Board any person | ||||||
15 | violates
any provision
of this Act, the Department
Board may | ||||||
16 | issue a rule to show cause why an
order
to cease and desist | ||||||
17 | should not be entered against him. The rule shall clearly
set
| ||||||
18 | forth the grounds relied upon by the Department
Board and shall | ||||||
19 | provide
a period
of 7 days from the date of the rule to file an | ||||||
20 | answer to the satisfaction
of the Department
Board . Failure to | ||||||
21 | answer to the satisfaction of the
Department
Board
shall cause | ||||||
22 | an order to cease and desist to be issued forthwith.
| ||||||
23 | (Source: P.A. 92-457, eff. 7-1-04.)
| ||||||
24 | (225 ILCS 450/30.4 new)
| ||||||
25 | (Section scheduled to be repealed on January 1, 2014) | ||||||
26 | Sec. 30.4. Prohibited practice. | ||||||
27 | (a) No licensed public accountant, licensed certified | ||||||
28 | public accountant, or public accounting firm may provide | ||||||
29 | contemporaneously with an audit those non-auditing services | ||||||
30 | referenced in subsection (g) of Section 10A of the federal | ||||||
31 | Securities Exchange Act of 1934, as amended, to a company, | ||||||
32 | excluding a not-for-profit organization, that (1) is not | ||||||
33 | required to file periodic information, documents, and reports | ||||||
34 | pursuant to the Securities Exchange Act of 1934 and (2) during | ||||||
35 | the previous fiscal year, had annual revenues exceeding |
| |||||||
| |||||||
1 | $50,000,000 or more than 500 employees.
| ||||||
2 | (b) (1) A licensed public accountant, licensed | ||||||
3 | certified public accountant, or public accounting firm is | ||||||
4 | exempted from the prohibition in subsection (a) of this | ||||||
5 | Section 30.4 if:
| ||||||
6 | (A) the licensed public accountant, licensed | ||||||
7 | certified public accountant, or public accounting firm | ||||||
8 | presents written notice of the contemporaneous | ||||||
9 | provision of auditing and non-auditing services to the | ||||||
10 | company prior to the commencement of the | ||||||
11 | contemporaneous provision of the services; and
| ||||||
12 | (B) the president or chief executive officer of the | ||||||
13 | company to which the contemporaneous auditing and | ||||||
14 | non-auditing services are to be provided subsequently | ||||||
15 | signs an acknowledgement that the company is aware of | ||||||
16 | and agrees to the contemporaneous provision of the | ||||||
17 | auditing and non-auditing services.
| ||||||
18 | (2) A licensed public accountant, licensed certified | ||||||
19 | public accountant, or public accounting firm waives the | ||||||
20 | exemption provided for in paragraph (1) of this subsection | ||||||
21 | (b) if the licensed public accountant, certified public | ||||||
22 | accountant, or public accounting firm engages in criminal | ||||||
23 | activity or willful or wanton negligence regarding the | ||||||
24 | provision of contemporaneous auditing and non-auditing | ||||||
25 | services to the company.
| ||||||
26 | (c) A violation of this Section shall subject a licensed | ||||||
27 | public accountant, licensed certified public accountant, or | ||||||
28 | public accounting firm to the provisions of Section 20.01 of | ||||||
29 | this Act.
| ||||||
30 | (d) Nothing in this Section shall be construed to authorize | ||||||
31 | or permit the provision of any services by a licensed public | ||||||
32 | accountant, licensed certified public accountant, or public | ||||||
33 | accounting firm that would result in a lack of independence | ||||||
34 | under applicable ethics standards of the accounting | ||||||
35 | profession.
|
| |||||||
| |||||||
1 | (225 ILCS 450/30.5 new)
| ||||||
2 | (Section scheduled to be repealed on January 1, 2014) | ||||||
3 | Sec. 30.5. Improper influence on the conduct of audits. | ||||||
4 | (a) It shall be unlawful for any officer or director of a | ||||||
5 | company that is not required to file periodic information, | ||||||
6 | documents, and reports pursuant to the federal Securities | ||||||
7 | Exchange Act of 1934, or any other person acting under the | ||||||
8 | direction thereof, to take any action to fraudulently | ||||||
9 | influence, coerce, manipulate, or mislead any licensed public | ||||||
10 | accountant or licensed certified public accountant engaged in | ||||||
11 | the performance of an audit of the financial statements of that | ||||||
12 | company for the purpose of rendering the financial statements | ||||||
13 | being audited materially misleading.
| ||||||
14 | (b) A person who, with the intent to deceive, violates this | ||||||
15 | Section is guilty of a Class 4 felony.
| ||||||
16 | (225 ILCS 450/30.6 new)
| ||||||
17 | (Section scheduled to be repealed on January 1, 2014) | ||||||
18 | Sec. 30.6. Misleading behavior by certified public | ||||||
19 | accountants. | ||||||
20 | (a) It shall be unlawful for any licensed public accountant | ||||||
21 | or licensed certified public accountant to intentionally | ||||||
22 | mislead a company that is not required to file periodic | ||||||
23 | information, documents, and reports pursuant to the federal | ||||||
24 | Securities Exchange Act of 1934 by falsifying records it | ||||||
25 | creates as part of an audit of the company.
| ||||||
26 | (b) A person who knowingly violates this Section is guilty | ||||||
27 | of a Class 4 felony.
| ||||||
28 | (225 ILCS 450/32) (from Ch. 111, par. 5537)
| ||||||
29 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
30 | Sec. 32. (a) This subsection (a) applies only until July 1, | ||||||
31 | 2004.
All
moneys received by the
Department
of Professional
| ||||||
32 | Regulation
under this Act shall be deposited into the | ||||||
33 | Registered Certified
Public Accountants' Administration and | ||||||
34 | Disciplinary Fund, which is hereby
created as a special fund in |
| |||||||
| |||||||
1 | the State Treasury. The funds in the account
shall be used by | ||||||
2 | the Department or the Board , as appropriated, exclusively
for | ||||||
3 | expenses
of the Department
of Professional
Regulation, or the | ||||||
4 | Public Accountants' Registration
Committee, or the Board in the
| ||||||
5 | administration of this Act.
| ||||||
6 | Moneys in the Registered Certified Public Accountants' | ||||||
7 | Administration and
Disciplinary Fund may be invested and | ||||||
8 | reinvested, with all earnings
received from the investments to | ||||||
9 | be deposited into the Registered Certified
Public Accountants' | ||||||
10 | Administration and Disciplinary Fund.
| ||||||
11 | Moneys from the Fund may also be used for direct and | ||||||
12 | allocable indirect
costs related to the public purposes of the | ||||||
13 | Department of Professional
Regulation or the Board . Moneys in | ||||||
14 | the Fund may be transferred to the
Professions Indirect
Cost | ||||||
15 | Fund as authorized by Section 2105-300 of the Department of
| ||||||
16 | Professional Regulation Law (20 ILCS 2105/2105-300).
| ||||||
17 | (b) This subsection (b) applies beginning July 1, 2004.
| ||||||
18 | All
moneys received by the
Board under this Act shall be | ||||||
19 | deposited into the Registered Certified
Public Accountants' | ||||||
20 | Administration and Disciplinary Fund,
a special fund in the | ||||||
21 | State treasury. The moneys in the Fund
shall be used by the | ||||||
22 | Board, as appropriated, exclusively
for expenses
of the | ||||||
23 | Department
of Professional
Regulation
and the Board
in the
| ||||||
24 | administration of this Act.
| ||||||
25 | Moneys in the Registered Certified Public Accountants' | ||||||
26 | Administration and
Disciplinary Fund may be invested and | ||||||
27 | reinvested, with all earnings
received from the investments to | ||||||
28 | be deposited into the Registered Certified
Public Accountants' | ||||||
29 | Administration and Disciplinary Fund.
| ||||||
30 | (Source: P.A. 91-239, eff. 1-1-00; 92-457, eff. 8-21-01.)
| ||||||
31 | Section 99. Effective date. This Act takes effect July 1, | ||||||
32 | 2004, except the provisions changing Section 1 of the Illinois | ||||||
33 | Public Accounting Act take effect on October 1, 2006.
|