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1 | AN ACT concerning regulation.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 1. The Regulatory Sunset Act is amended by changing | ||||||||||||||||||||||||
5 | Section 4.24 and by adding Section 4.33 as follows:
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6 | (5 ILCS 80/4.24)
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7 | Sec. 4.24. Acts repealed on January 1, 2014. The following
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8 | Acts are repealed
on January 1, 2014:
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9 | The Electrologist Licensing Act.
| ||||||||||||||||||||||||
10 | The Illinois Certified Shorthand Reporters Act of 1984.
| ||||||||||||||||||||||||
11 | The Illinois Occupational Therapy Practice Act.
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12 | The Illinois Public Accounting Act.
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13 | The Private Detective, Private Alarm, Private Security, | ||||||||||||||||||||||||
14 | Fingerprint Vendor, and Locksmith Act
of 2004.
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15 | The Registered Surgical Assistant and Registered Surgical | ||||||||||||||||||||||||
16 | Technologist
Title Protection Act.
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17 | The Veterinary Medicine and Surgery Practice Act of 2004.
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18 | (Source: P.A. 95-331, eff. 8-21-07; 95-613, eff. 9-11-07.)
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19 | (5 ILCS 80/4.33 new) | ||||||||||||||||||||||||
20 | Sec. 4.33. Act repealed on January 1, 2023. The following | ||||||||||||||||||||||||
21 | Act is repealed on January 1, 2023: | ||||||||||||||||||||||||
22 | The Illinois Public Accounting Act. |
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1 | Section 5. The Illinois Public Accounting Act is amended by | ||||||
2 | changing Sections 0.03, 2, 2.05, 2.1, 4, 5, 5.2, 9.02, 9.2, | ||||||
3 | 9.3, 13, 14, 14.1, 14.2, 14.3, 16, 17.1, 17.2, 19, 20.01, 20.1, | ||||||
4 | 20.2, 20.4, 20.5, 20.6, 21, 28, 30, 30.5, and 30.6 and by | ||||||
5 | adding Sections 0.04 and 8.05 as follows:
| ||||||
6 | (225 ILCS 450/0.03) (from Ch. 111, par. 5500.03)
| ||||||
7 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
8 | Sec. 0.03. Definitions. As used in this Act, unless the | ||||||
9 | context
otherwise requires:
| ||||||
10 | "Accountancy activities" means the services as set forth in | ||||||
11 | Section 8.05 of this Act. | ||||||
12 | "Address of record" means the designated address recorded | ||||||
13 | by the Department in the applicant's or licensee's application | ||||||
14 | file or license file maintained by the Department's licensure | ||||||
15 | maintenance unit. It is the duty of the applicant or licensee | ||||||
16 | to inform the Department of any change of address and those | ||||||
17 | changes must be made either through the Department's website or | ||||||
18 | by directly contacting the Department. | ||||||
19 | "Certificate" means a certificate issued by the Board or | ||||||
20 | University or similar jurisdictions specifying an individual | ||||||
21 | has successfully passed all sections and requirements of the | ||||||
22 | Uniform Certified Public Accountants Examination. A | ||||||
23 | certificate issued by the Board or University or similar | ||||||
24 | jurisdiction does not confer the ability to use the CPA title |
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| |||||||
1 | and is not equivalent to a registration or license under this | ||||||
2 | Act. | ||||||
3 | "Compilation" means providing a service to be performed in | ||||||
4 | accordance with Statements on Standards for Accounting and | ||||||
5 | Review Services that is presented in the form of financial | ||||||
6 | statements or information that is the representation of | ||||||
7 | management or owners without undertaking to express any | ||||||
8 | assurance on the statements. | ||||||
9 | "CPA" or "C.P.A." means a certified public accountant who | ||||||
10 | holds a license or registration issued by the Department or an | ||||||
11 | individual authorized to use the CPA title under Section 5.2 of | ||||||
12 | this Act. | ||||||
13 | "CPA firm" means a sole proprietorship, a corporation, a | ||||||
14 | partnership, or any other form of organization issued a license | ||||||
15 | in accordance with this Act. | ||||||
16 | "CPA (inactive)" means a licensed certified public | ||||||
17 | accountant who elects to have the Department place his or her | ||||||
18 | license on inactive status pursuant to Section 17.2 of this | ||||||
19 | Act. | ||||||
20 | "Financial statement" means a structured presentation of | ||||||
21 | historical financial information, including, but not limited | ||||||
22 | to, related notes intended to communicate an entity's economic | ||||||
23 | resources and obligations at a point in time or the changes | ||||||
24 | therein for a period of time in accordance with generally | ||||||
25 | accepted accounting principles (GAAP) or other comprehensive | ||||||
26 | basis of accounting (OCBOA). |
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| |||||||
1 | "Other attestation engagements" means an engagement | ||||||
2 | performed in accordance with the Statements on Standards for | ||||||
3 | Attestation Engagements. | ||||||
4 | (a) "Registered Certified Public Accountant" or | ||||||
5 | "registered CPA" means any person who has been issued
a | ||||||
6 | registration under this Act as a Registered Certified Public | ||||||
7 | Accountant.
| ||||||
8 | "Report", when used with reference to financial | ||||||
9 | statements, means an opinion, report, or other form of language | ||||||
10 | that states or implies assurance as to the reliability of any | ||||||
11 | financial statements and that also includes or is accompanied | ||||||
12 | by any statement or implication that the person or firm issuing | ||||||
13 | it has special knowledge or competence in accounting or | ||||||
14 | auditing. Such a statement or implication of special knowledge | ||||||
15 | or competence may arise from use by the issuer of the report of | ||||||
16 | names or titles indicating that the person or firm is an | ||||||
17 | accountant or auditor, or from the language of the report | ||||||
18 | itself. "Report" includes any form of language that disclaims | ||||||
19 | an opinion when the form of language is conventionally | ||||||
20 | understood to imply any positive assurance as to the | ||||||
21 | reliability of the financial statements referred to or special | ||||||
22 | competence on the part of the person or firm issuing such | ||||||
23 | language; it includes any other form of language that is | ||||||
24 | conventionally understood to imply such assurance or such | ||||||
25 | special knowledge or competence. | ||||||
26 | (b) "Licensed Certified Public Accountant" or "licensed |
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| |||||||
1 | CPA" means any person licensed
under this Act as a Licensed | ||||||
2 | Certified Public Accountant.
| ||||||
3 | (c) "Committee" means the Public Accountant Registration | ||||||
4 | Committee appointed by the Secretary Director .
| ||||||
5 | (d) "Department" means the Department of Financial and | ||||||
6 | Professional Regulation.
| ||||||
7 | (e) "Director" means the Director of Professional | ||||||
8 | Regulation.
| ||||||
9 | (f) "License", "licensee" and "licensure" refers to the | ||||||
10 | authorization
to practice under the provisions of this Act.
| ||||||
11 | (g) "Peer review program " means a study, appraisal, or | ||||||
12 | review of one or
more aspects of a firm's or sole | ||||||
13 | practitioner's compliance with applicable accounting, | ||||||
14 | auditing, and other attestation standards adopted by generally | ||||||
15 | recognized standard-setting bodies the professional work of
a | ||||||
16 | firm or sole practitioner in the practice of public accounting | ||||||
17 | to determine the degree of compliance by the firm or sole | ||||||
18 | practitioner with professional standards and practices, | ||||||
19 | conducted by persons who hold current licenses to practice | ||||||
20 | public accounting under the laws of this or another state and | ||||||
21 | who are not affiliated with the firm or sole practitioner being | ||||||
22 | reviewed .
| ||||||
23 | "Principal place of business" means the office location | ||||||
24 | designated by the licensee from which the person directs, | ||||||
25 | controls, and coordinates his or her professional services. | ||||||
26 | (h) "Review committee" means any person or persons |
| |||||||
| |||||||
1 | conducting, reviewing,
administering, or supervising a peer | ||||||
2 | review program.
| ||||||
3 | "Secretary" means the Secretary of the Department of | ||||||
4 | Financial and Professional Regulation. | ||||||
5 | (i) "University" means the University of Illinois.
| ||||||
6 | (j) "Board" means the Board of Examiners established under | ||||||
7 | Section 2.
| ||||||
8 | (k) "Registration", "registrant", and "registered" refer | ||||||
9 | to the authorization to hold oneself out as or use the title | ||||||
10 | "Registered Certified Public Accountant" or "Certified Public | ||||||
11 | Accountant", unless the context otherwise requires.
| ||||||
12 | (l) "Peer Review Administrator" means an organization | ||||||
13 | designated by the Department that meets the requirements of | ||||||
14 | subsection (f) of Section 16 of this Act and other rules that | ||||||
15 | the Department may adopt.
| ||||||
16 | (Source: P.A. 93-683, eff. 7-2-04; 94-779, eff. 5-19-06.)
| ||||||
17 | (225 ILCS 450/0.04 new) | ||||||
18 | Sec. 0.04. Applicability. This Act applies to any one of | ||||||
19 | the categories of licensure under this Act and the performance | ||||||
20 | of or offering to perform accountancy activities. | ||||||
21 | (225 ILCS 450/2) (from Ch. 111, par. 5502)
| ||||||
22 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
23 | Sec. 2. Board of Examiners. The Governor shall appoint a | ||||||
24 | Board
of
Examiners that shall determine the qualifications of |
| |||||||
| |||||||
1 | persons applying for
certificates and shall make rules for and | ||||||
2 | conduct examinations for determining
the qualifications.
| ||||||
3 | The Board shall consist of
11 examiners,
including 2 public
| ||||||
4 | members. The
remainder shall be
certified
public accountants in | ||||||
5 | this State who have been residents of this State for at
least 5 | ||||||
6 | years immediately preceding their appointment, except that one | ||||||
7 | shall be either
a certified public accountant of the grade | ||||||
8 | herein described or an
attorney licensed and
residing in this | ||||||
9 | State and one shall be a certified public accountant who is an
| ||||||
10 | active or retired educator residing in this State. The term of | ||||||
11 | office of each
examiner shall be 3 years , except that upon the | ||||||
12 | enactment of this
amendatory Act of the 93rd General Assembly, | ||||||
13 | those members
currently serving on the Board
shall continue to | ||||||
14 | serve the duration of their terms, one additional examiner
| ||||||
15 | shall be appointed for a term of one year, and one additional | ||||||
16 | examiner for a term
of 2 years. As the term of
each examiner | ||||||
17 | expires, the appointment shall be filled for a term of 3 years
| ||||||
18 | from the date of expiration. Any Board member who has served as | ||||||
19 | a member for 6
consecutive years shall not be eligible for | ||||||
20 | reappointment until 2 years after
the end of the term in which | ||||||
21 | the sixth consecutive year of service occurred,
except that | ||||||
22 | members of the
Board serving on the effective date of this | ||||||
23 | Section shall be eligible
for appointment to one additional | ||||||
24 | 3-year term. Where the expiration of
any member's term shall | ||||||
25 | result in less than 11 members then serving on
the Board, the | ||||||
26 | member shall continue to serve until his or her successor is
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| |||||||
1 | appointed and has qualified. Except as otherwise provided in | ||||||
2 | this Section, no No Board member shall serve more than 2 full | ||||||
3 | consecutive terms. Anyone appointed to the Board shall be | ||||||
4 | ineligible to be appointed to the Illinois Public Accountants | ||||||
5 | Registration Committee appointed by the Secretary Director .
| ||||||
6 | Appointments to fill vacancies shall be made in the same manner | ||||||
7 | as original appointments for the unexpired portion of the | ||||||
8 | vacated term. The membership of the Board shall reasonably | ||||||
9 | reflect representation from the geographic areas in this State. | ||||||
10 | The members of the Board appointed by the Governor shall | ||||||
11 | receive reasonable compensation for their necessary, | ||||||
12 | legitimate, and authorized expenses in accordance with the | ||||||
13 | Governor's Travel Control Board rules and the Travel Regulation | ||||||
14 | Rules. The Governor may terminate the term of any
member of the | ||||||
15 | Board at any time for cause.
| ||||||
16 | Information regarding educational requirements, the | ||||||
17 | application process,
the
examination, and fees shall be | ||||||
18 | available on the Board's Internet web site as
well as in
| ||||||
19 | printed documents available from the Board's office.
| ||||||
20 | The Board shall adopt all necessary and reasonable rules | ||||||
21 | and regulations
for the effective administration of this Act. | ||||||
22 | Without limiting the foregoing,
the Board
shall adopt and | ||||||
23 | prescribe rules and regulations for a fair and
impartial method | ||||||
24 | of determining the qualifications of applicants for
| ||||||
25 | examination and for a fair and impartial method of examination | ||||||
26 | of
persons under Section 2 and may establish rules for subjects |
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| |||||||
1 | conditioned and
for the transfer of credits from other | ||||||
2 | jurisdictions with respect to subjects
passed. | ||||||
3 |
The Board shall make an annual report of its activities to | ||||||
4 | the Governor and the Secretary Director . This report shall | ||||||
5 | include a complete operating and financial statement covering | ||||||
6 | its operations during the year, the number of examinations | ||||||
7 | given, the pass/fail ratio for examinations, and any other | ||||||
8 | information deemed appropriate. The Board shall have an audit | ||||||
9 | of its books and accounts every 2 years by the Auditor General.
| ||||||
10 | (Source: P.A. 92-457, eff. 7-1-04; 93-629, eff. 12-23-03; | ||||||
11 | 93-683, eff. 7-2-04.) | ||||||
12 | (225 ILCS 450/2.05)
| ||||||
13 | (Section scheduled to be repealed on January 1, 2014) | ||||||
14 | Sec. 2.05. Public Accountant Registration Committee. The | ||||||
15 | Secretary Director shall appoint a Public Accountant | ||||||
16 | Registration Committee consisting of 7 persons, who shall be | ||||||
17 | appointed by and shall serve in an advisory capacity to the | ||||||
18 | Secretary Director . Six members must be licensed public | ||||||
19 | accountants or Licensed Certified Public Accountants in good | ||||||
20 | standing and must be actively engaged in the performance of | ||||||
21 | accountancy activities as outlined in paragraph (1) of | ||||||
22 | subsection (a) of Section 8.05 practice of public accounting in | ||||||
23 | this State and one member must be a member of the public who is | ||||||
24 | not licensed under this Act or a similar Act of another | ||||||
25 | jurisdiction and who has no connection with the accounting or |
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| |||||||
1 | public accounting profession. Members shall serve 4-year terms | ||||||
2 | and until their successors are appointed and qualified. No | ||||||
3 | member shall be reappointed to the Committee for more than 2 | ||||||
4 | full terms. Appointments to fill vacancies shall be made in the | ||||||
5 | same manner as original appointments for the unexpired portion | ||||||
6 | of the vacated term. The membership of the Committee shall | ||||||
7 | reasonably reflect representation from the geographic areas in | ||||||
8 | this State.
The members of the Committee appointed by the | ||||||
9 | Secretary Director shall receive reasonable compensation, as | ||||||
10 | determined by the Department, for the necessary, legitimate, | ||||||
11 | and authorized expenses approved by the Department. All | ||||||
12 | expenses shall be paid from the Registered Certified Public | ||||||
13 | Accountants' Administration and Disciplinary Fund.
The | ||||||
14 | Secretary Director may terminate the appointment of any member | ||||||
15 | for cause.
The Secretary Director shall consider the advice and | ||||||
16 | recommendations of the Committee on questions involving | ||||||
17 | standards of professional conduct, discipline, and | ||||||
18 | qualifications of candidates and licensees under this Act.
| ||||||
19 | (Source: P.A. 93-683, eff. 7-2-04.)
| ||||||
20 | (225 ILCS 450/2.1) (from Ch. 111, par. 5503)
| ||||||
21 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
22 | Sec. 2.1. Administrative Procedure Act. The Illinois | ||||||
23 | Administrative Procedure
Act is hereby expressly adopted and | ||||||
24 | incorporated herein as if all of the
provisions of that Act | ||||||
25 | were included in this Act, except that the provision of
|
| |||||||
| |||||||
1 | subsection (d) of Section 10-65 of the Illinois Administrative | ||||||
2 | Procedure Act
that provides that at hearings the licensee has | ||||||
3 | the right to show compliance
with all lawful requirements for | ||||||
4 | retention, continuation or renewal of the
license is | ||||||
5 | specifically excluded. For the purposes of this Act the notice
| ||||||
6 | required under Section 10-25 of the Administrative Procedure | ||||||
7 | Act is deemed
sufficient when mailed to the licensee's address | ||||||
8 | of record the last known address of a party .
| ||||||
9 | (Source: P.A. 88-45.)
| ||||||
10 | (225 ILCS 450/4) (from Ch. 111, par. 5505)
| ||||||
11 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
12 | Sec. 4. Transitional language.
| ||||||
13 | (a) The provisions of this Act shall not be construed to | ||||||
14 | invalidate any
certificates as certified public accountants | ||||||
15 | issued by the University under
"An Act to regulate the | ||||||
16 | profession of public accountants", approved May 15,
1903, as | ||||||
17 | amended, or any certificates as Certified Public Accountants
| ||||||
18 | issued by the University or the Board under Section 4 of "An | ||||||
19 | Act to regulate the
practice of public accounting and to repeal | ||||||
20 | certain acts therein named",
approved July 22, 1943, as | ||||||
21 | amended, which certificates shall be valid and
in force as | ||||||
22 | though issued under the provisions of this Act. | ||||||
23 | (b) Before July 1, 2012, persons who have received a | ||||||
24 | Certified Public Accountant (CPA) Certificate issued by the | ||||||
25 | Board or University of Examiners or holding similar |
| |||||||
| |||||||
1 | certifications from other jurisdictions with equivalent | ||||||
2 | educational requirements and examination standards may apply | ||||||
3 | to the Department on forms supplied by the Department for and | ||||||
4 | may be granted a registration as a Registered Certified Public | ||||||
5 | Accountant from the Department upon payment of the required | ||||||
6 | fee. | ||||||
7 | (c) Beginning with the 2006 renewal, the Department shall | ||||||
8 | cease to issue a license as a Public Accountant. Any person | ||||||
9 | holding a valid license as a Public Accountant prior to | ||||||
10 | September 30, 2006 who meets the conditions for renewal of a | ||||||
11 | license under this Act, shall be issued a license as a Licensed | ||||||
12 | Certified Public Accountant under this Act and shall be subject | ||||||
13 | to continued regulation by the Department under this Act. The | ||||||
14 | Department may adopt rules to implement this Section. | ||||||
15 | (d) The Department shall not issue any new registrations as | ||||||
16 | a Registered Certified Public Accountant on or after July 1, | ||||||
17 | 2012. After that date, any applicant for licensure under this | ||||||
18 | Act shall apply for a license as a Licensed Certified Public | ||||||
19 | Accountant and shall meet the requirements set forth in this | ||||||
20 | Act. Any person issued a Certified Public Accountant | ||||||
21 | certificate who has been issued a registration as a Registered | ||||||
22 | Certified Public Accountant may renew the registration under | ||||||
23 | the provisions of this Act and that person may continue to | ||||||
24 | renew or restore the registration during his or her lifetime, | ||||||
25 | subject only to the renewal or restoration requirements for the | ||||||
26 | registration under this Act. Such registration shall be subject |
| |||||||
| |||||||
1 | to the disciplinary provisions of this Act. | ||||||
2 | (e) (Blank). On and after October 1, 2006, no person shall | ||||||
3 | hold himself or herself out to the public in this State in any | ||||||
4 | manner by using the title "certified public accountant" or use | ||||||
5 | the abbreviation "C.P.A." or "CPA" or any words or letters to | ||||||
6 | indicate that the person using the same is a certified public | ||||||
7 | accountant unless he or she maintains a current registration or | ||||||
8 | license issued by the Department or is exercising the practice | ||||||
9 | privilege afforded under Section 5.2 of this Act. It shall be a | ||||||
10 | violation of this Act for an individual to assume or use the | ||||||
11 | title "certified public accountant" or use the abbreviation | ||||||
12 | "C.P.A." or "CPA" or any words or letters to indicate that the | ||||||
13 | person using the same is a certified public accountant in this | ||||||
14 | State unless he or she maintains a current registration or | ||||||
15 | license issued by the Department or is exercising the practice | ||||||
16 | privilege afforded under Section 5.2 of this Act.
| ||||||
17 | (Source: P.A. 95-386, eff. 1-1-08; 96-945, eff. 6-25-10.)
| ||||||
18 | (225 ILCS 450/5) (from Ch. 111, par. 5506)
| ||||||
19 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
20 | Sec. 5. Certification of out-of-State accountants.
| ||||||
21 | (a) Upon review of an applicant's educational and | ||||||
22 | examination credentials by the Board of Examiners , the | ||||||
23 | Department may issue a
registration as a registered certified | ||||||
24 | public accountant, without examination, to any
applicant who | ||||||
25 | holds a valid unrevoked certificate as a certified public
|
| |||||||
| |||||||
1 | accountant issued under the laws of any other state or | ||||||
2 | territory of the United
States or the District of Columbia, | ||||||
3 | provided:
| ||||||
4 | (1) that the state that issued the certificate has
| ||||||
5 | certification requirements that have been determined by
| ||||||
6 | the Board to be substantially equivalent to the
| ||||||
7 | certification requirements of Illinois and grants
similar | ||||||
8 | rights to those that Illinois grants to
certificate | ||||||
9 | holders;
| ||||||
10 | (2) that the state that issued the certificate has
| ||||||
11 | certification requirements that the Board has
determined | ||||||
12 | not to be substantially equivalent to the
certification | ||||||
13 | requirements of Illinois or does not
grant similar rights | ||||||
14 | to Illinois certificate holders,
but the Board determines | ||||||
15 | that the individual applicant
possesses personal | ||||||
16 | qualifications substantially
equivalent to Illinois' | ||||||
17 | certification
requirements; or
| ||||||
18 | (3) that the applicant does not qualify under
| ||||||
19 | subsections (1) or (2) above, but the following
conditions | ||||||
20 | are met:
| ||||||
21 | (A) the certificate was granted to the applicant on | ||||||
22 | the
basis
of the Uniform Certified Public Accountant | ||||||
23 | examination; and
| ||||||
24 | (B) the educational qualifications of the | ||||||
25 | applicant for a
certificate, at
the time of the written | ||||||
26 | examination, were equivalent to the educational
|
| |||||||
| |||||||
1 | qualifications then required of applicants for | ||||||
2 | admission to the Illinois
examination for certified | ||||||
3 | public accountant or, the applicant
has, after passing | ||||||
4 | the examination upon which his or her certificate was | ||||||
5 | based,
not less than 5 years of experience in the | ||||||
6 | practice of public accounting within
the 10 years | ||||||
7 | immediately preceding this application, otherwise | ||||||
8 | reasonably
considered acceptable by the Board.
| ||||||
9 | (b) In determining the substantial equivalency of the
| ||||||
10 | requirements for certification or the rights granted to
| ||||||
11 | certificate holders pursuant to this Section, the Department | ||||||
12 | may
rely on the determinations of the National Qualification
| ||||||
13 | Appraisal Service of the National Association of State Boards
| ||||||
14 | of Accountancy or any other qualification appraisal service, as | ||||||
15 | it deems
appropriate.
| ||||||
16 | (Source: P.A. 93-683, eff. 7-2-04.)
| ||||||
17 | (225 ILCS 450/5.2)
| ||||||
18 | (Section scheduled to be repealed on January 1, 2014) | ||||||
19 | Sec. 5.2. Substantial equivalency. | ||||||
20 | (a) An individual whose principal place of business is not | ||||||
21 | in this State shall have all the privileges of a person | ||||||
22 | licensed under this Act as a licensed certified public | ||||||
23 | accountant without the need to obtain a license or registration | ||||||
24 | from the Department or to file notice with the Department, if | ||||||
25 | the individual: |
| |||||||
| |||||||
1 | (1) holds a valid license as a certified public | ||||||
2 | accountant issued by another state that the National | ||||||
3 | Qualification Appraisal Service of the National | ||||||
4 | Association of State Boards of Accountancy has verified to | ||||||
5 | be in substantial equivalence with the CPA licensure | ||||||
6 | requirements of the Uniform Accountancy Act of the American | ||||||
7 | Institute of Certified Public Accountants and the National | ||||||
8 | Association of State Boards of Accountancy; or | ||||||
9 | (2) holds a valid license as a certified public | ||||||
10 | accountant issued by another state and obtains from the | ||||||
11 | National Qualification Appraisal Service of the National | ||||||
12 | Association of State Boards of Accountancy verification | ||||||
13 | that the individual's CPA qualifications are substantially | ||||||
14 | equivalent to the CPA licensure requirements of the Uniform | ||||||
15 | Accountancy Act of the American Institute of Certified | ||||||
16 | Public Accountants and the National Association of State | ||||||
17 | Boards of Accountancy; however, any individual who has | ||||||
18 | passed the Uniform CPA Examination and holds a valid | ||||||
19 | license issued by any other state prior to January 1, 2012 | ||||||
20 | shall be exempt from the education requirements of Section | ||||||
21 | 3 of this Act for the purposes of this item (2). | ||||||
22 | (b) Notwithstanding any other provision of law, an | ||||||
23 | individual who offers or renders professional services under | ||||||
24 | this Section, whether in person or by mail, telephone, or | ||||||
25 | electronic means, shall be granted practice privileges in this | ||||||
26 | State and no notice or other submission must be provided by any |
| |||||||
| |||||||
1 | such individual. | ||||||
2 | (c) An individual licensee of another state who is | ||||||
3 | exercising the privilege afforded under this Section and the | ||||||
4 | CPA firm that employs such individual, if any, as a condition | ||||||
5 | of the grant of this privilege, hereby simultaneously consents: | ||||||
6 | (1) to the personal and subject matter jurisdiction and | ||||||
7 | disciplinary authority of the Department; | ||||||
8 | (2) to comply with this Act and the Department's rules | ||||||
9 | adopted under this Act; | ||||||
10 | (3) that in the event that the license from the state | ||||||
11 | of the individual's principal place of business is no | ||||||
12 | longer valid, the individual shall cease offering or | ||||||
13 | rendering accountancy activities as outlined in paragraphs | ||||||
14 | (1) and (2) of Section 8.05 professional services in this | ||||||
15 | State individually or on behalf of a CPA firm; and | ||||||
16 | (4) to the appointment of the state board that issued | ||||||
17 | the individual's or the CPA firm's license as the agent | ||||||
18 | upon which process may be served in any action or | ||||||
19 | proceeding by the Department against the individual. | ||||||
20 | (d) An individual licensee who qualifies for practice | ||||||
21 | privileges under this Section who, for any entity headquartered | ||||||
22 | in this State, performs (i) a financial statement audit or | ||||||
23 | other engagement in accordance with Statements on Auditing | ||||||
24 | Standards; (ii) an examination of prospective financial | ||||||
25 | information in accordance with Statements on Standards for | ||||||
26 | Attestation Engagements; or (iii) an engagement in accordance |
| |||||||
| |||||||
1 | with Public Company Accounting Oversight Board Auditing | ||||||
2 | Standards may only do so through a firm licensed under this | ||||||
3 | Act.
| ||||||
4 | (Source: P.A. 95-386, eff. 1-1-08.) | ||||||
5 | (225 ILCS 450/8.05 new) | ||||||
6 | Sec. 8.05. Accountancy activities. | ||||||
7 | (a) Accountancy activities are services performed by a CPA, | ||||||
8 | including: | ||||||
9 | (1) signing, affixing, or associating the names used by | ||||||
10 | a CPA firm to any report expressing an assurance on a | ||||||
11 | financial statement or disclaiming an opinion on a | ||||||
12 | financial statement based on an audit or examination of | ||||||
13 | that statement or to express assurance on a financial | ||||||
14 | statement; | ||||||
15 | (2) other attestation engagements not otherwise | ||||||
16 | defined in paragraph (1); or | ||||||
17 | (3) offering to perform or performing one or more types | ||||||
18 | of the following services involving the use of professional | ||||||
19 | skills or competencies: accounting, management, financial | ||||||
20 | or consulting services, compilations, internal audit, | ||||||
21 | preparation of tax returns, furnishing advice on tax | ||||||
22 | matters, or representations of taxpayers; this includes | ||||||
23 | the teaching of any of these areas at the college or | ||||||
24 | university level. | ||||||
25 | (b) If offering or performing accountancy activities using |
| |||||||
| |||||||
1 | the CPA title set forth in paragraphs (1), (2), and (3) of | ||||||
2 | subsection (a) of this Section, then: | ||||||
3 | (1) the activities identified in subsection (1) may | ||||||
4 | only be performed by licensed CPA's; | ||||||
5 | (2) the activities identified in subsection (2) may | ||||||
6 | only be performed by licensed or registered CPA's; and | ||||||
7 | (3) the activities identified in subsection (3) are not | ||||||
8 | restricted to licensed or registered CPA's, subject to the | ||||||
9 | provisions of Section 9.02 of this Act.
| ||||||
10 | (225 ILCS 450/9.02)
| ||||||
11 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
12 | Sec. 9.02. Unauthorized use of title; violation; civil | ||||||
13 | penalty.
| ||||||
14 | (a) The use of the title "certified public accountant" or | ||||||
15 | abbreviation "C.P.A." or any similar terms that may be | ||||||
16 | misleading to the public indicating that an individual or the | ||||||
17 | members of a CPA firm are certified public accountants is | ||||||
18 | prohibited unless (1) the individual or members are holders of | ||||||
19 | an effective unrevoked license or registration or qualify for | ||||||
20 | the practice privilege under Section 5.2 of this Act and (2) | ||||||
21 | the CPA firm is licensed as a certified public accounting firm | ||||||
22 | or a professional service corporation by the Department. Any | ||||||
23 | person who holds himself or herself out to the public as a | ||||||
24 | certified public accountant in this State by using the title | ||||||
25 | "certified public
accountant" or the abbreviation "CPA" or any |
| |||||||
| |||||||
1 | words or letters
to indicate that the person using the same is | ||||||
2 | a certified public
accountant without having been issued a | ||||||
3 | registration or a license as a certified public accountant | ||||||
4 | under the
provisions of this Act or without qualifying for the | ||||||
5 | practice privilege under Section 5.2 of this Act shall, in | ||||||
6 | addition to any other penalty
provided by law, pay a civil | ||||||
7 | penalty to the Department in an amount not to
exceed $5,000 for | ||||||
8 | each offense as determined by the Department. The
civil penalty | ||||||
9 | shall be assessed by the Department
after a hearing is held in
| ||||||
10 | accordance with the provisions set forth in this Act regarding | ||||||
11 | the
provision of a hearing for the discipline of a licensee.
| ||||||
12 | (a-5) A civil penalty may be assessed by the Department in | ||||||
13 | an amount not to exceed $10,000 for each offense as determined | ||||||
14 | by the Department and in addition to any other civil penalty | ||||||
15 | provided by law. The civil penalty shall be assessed by the | ||||||
16 | Department after a hearing is held in accordance with the | ||||||
17 | provisions set forth in this Act regarding the provision of a | ||||||
18 | hearing for the discipline of a licensee. | ||||||
19 | (b) The Department has the authority and power to | ||||||
20 | investigate any and
all alleged improper use of the certified | ||||||
21 | public accountant title or CPA
designation and any and all | ||||||
22 | unlicensed activity .
| ||||||
23 | (c) The civil penalty shall be paid within 60 days after | ||||||
24 | the
effective date of the order imposing the civil penalty. The | ||||||
25 | order shall
constitute a judgment and may be filed and | ||||||
26 | execution had thereon in the
same manner as any judgment from |
| |||||||
| |||||||
1 | any court of record.
| ||||||
2 | (Source: P.A. 95-386, eff. 1-1-08.)
| ||||||
3 | (225 ILCS 450/9.2) (from Ch. 111, par. 5510.2)
| ||||||
4 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
5 | Sec. 9.2. Powers and duties of the Department.
| ||||||
6 | (a) The Department shall exercise the powers and
duties
| ||||||
7 | prescribed
by "The Civil Administrative Code of Illinois" for | ||||||
8 | the administration of
licensing acts and shall exercise such | ||||||
9 | other powers and duties invested by this
Act.
| ||||||
10 | (b) The Secretary Director may promulgate rules consistent | ||||||
11 | with the
provisions of
this Act for the administration and | ||||||
12 | enforcement of the provisions of this Act for which the | ||||||
13 | Department is responsible and for the payment
of fees connected | ||||||
14 | therewith and may prescribe forms which shall be issued
in | ||||||
15 | connection therewith. The rules shall include standards and | ||||||
16 | criteria
for licensure and professional conduct and | ||||||
17 | discipline.
| ||||||
18 | (c) The Department may solicit the advice and expert | ||||||
19 | knowledge of the Committee or the Board on any matter relating | ||||||
20 | to the administration and enforcement of this Act.
| ||||||
21 | The Department may in its discretion, but shall not be | ||||||
22 | required to, employ or utilize the legal services of outside | ||||||
23 | counsel and the investigative services of outside personnel to | ||||||
24 | assist the Department and is authorized to pay for such | ||||||
25 | services from the Registered Certified Public Accountants' |
| |||||||
| |||||||
1 | Administration and Disciplinary Fund. | ||||||
2 | (Source: P.A. 92-457, eff. 7-1-04; 93-683, eff. 7-2-04.)
| ||||||
3 | (225 ILCS 450/9.3)
| ||||||
4 | (Section scheduled to be repealed on January 1, 2014) | ||||||
5 | Sec. 9.3. Sharing of information. Notwithstanding any | ||||||
6 | other provision of this Act, for the purpose of carrying out | ||||||
7 | their respective duties and responsibilities under this Act and | ||||||
8 | to effectuate the purpose of this Act, both the Board of | ||||||
9 | Examiners and the Department of Financial and Professional | ||||||
10 | Regulation are authorized and directed to share information | ||||||
11 | with each other regarding those individuals and entities | ||||||
12 | licensed or certified or applying for licensure or | ||||||
13 | certification under this Act.
| ||||||
14 | (Source: P.A. 94-779, eff. 5-19-06.)
| ||||||
15 | (225 ILCS 450/13) (from Ch. 111, par. 5514)
| ||||||
16 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
17 | Sec. 13. Application for licensure.
| ||||||
18 | (a) A person, CPA firm, domestic or foreign entity | ||||||
19 | organized as a sole proprietorship, professional service | ||||||
20 | corporation, partnership, or registered limited liability | ||||||
21 | partnership or any other form of organization that is | ||||||
22 | performing accountancy activities in accordance with this Act | ||||||
23 | limited liability
company, or corporation desiring to practice | ||||||
24 | public accounting in this State
shall make application to the |
| |||||||
| |||||||
1 | Department for licensure as a
licensed certified public | ||||||
2 | accountant
and shall pay the fee required by rule.
| ||||||
3 | Applicants have 3 years from the date of application to | ||||||
4 | complete the
application process. If the process has not been | ||||||
5 | completed in 3 years,
the application shall be denied, the fee | ||||||
6 | forfeited and the applicant must
reapply and meet the | ||||||
7 | requirements in effect at the time of reapplication.
| ||||||
8 | (b) Any firm, whether organized as a partnership, limited | ||||||
9 | liability company, corporation, or other entity, that (i) has | ||||||
10 | an office in this State that uses the title "CPA" or "CPA | ||||||
11 | firm"; (ii) has an office in this State that performs | ||||||
12 | accountancy activities public accounting services , as defined | ||||||
13 | in paragraph (1) of Section 8.05 8 of this Act; or (iii) does | ||||||
14 | not have an office in this State, but performs attest services, | ||||||
15 | as set forth in subsection (d) of Section 5.2 of this Act, for | ||||||
16 | a client that has its home office in this State must hold a | ||||||
17 | license issued under this Act. | ||||||
18 | (c) A firm that does not have an office in this State may | ||||||
19 | perform a review of a financial statement in accordance with | ||||||
20 | the Statements on Standards for Accounting and Review Services | ||||||
21 | for a client with its home office in this State and may use the | ||||||
22 | title "CPA" or "CPA firm" without obtaining a license under | ||||||
23 | this Act, only if the firm (i) performs such services through | ||||||
24 | individuals with practice privileges under Section 5.2 of this | ||||||
25 | Act; (ii) satisfies any peer review requirements in those | ||||||
26 | states in which the individuals with practice privileges under |
| |||||||
| |||||||
1 | Section 5.2 have their principal place of business; and (iii) | ||||||
2 | meets the qualifications set forth in item (2) of subsection | ||||||
3 | (b) of Section 14 of this Act. | ||||||
4 | (d) A firm that is not subject to the requirements of | ||||||
5 | subsection (b) or (c) of this Section may perform professional | ||||||
6 | services that are not regulated under subsection (b) or (c) of | ||||||
7 | this Section while using the title "CPA" or "CPA firm" in this | ||||||
8 | State without obtaining a license under this Act if the firm | ||||||
9 | (i) performs such services through individuals with practice | ||||||
10 | privileges under Section 5.2 of this Act and (ii) may lawfully | ||||||
11 | perform such services in the state where those individuals with | ||||||
12 | practice privileges under Section 5.2 of this Act have their | ||||||
13 | principal place of business. | ||||||
14 | (Source: P.A. 95-386, eff. 1-1-08.)
| ||||||
15 | (225 ILCS 450/14) (from Ch. 111, par. 5515)
| ||||||
16 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
17 | Sec. 14. Qualifications. The Department may
license as
| ||||||
18 | licensed certified public accountants the following:
| ||||||
19 | (a) All persons who have received certificates as certified | ||||||
20 | public accountants from the Board or who hereafter receive | ||||||
21 | registrations as registered certified public accountants from | ||||||
22 | the Department who have had at least one year
of full-time | ||||||
23 | experience, or its equivalent, providing any type
of service or | ||||||
24 | advice involving
the use of accounting, attest, audit, | ||||||
25 | management advisory, financial advisory, tax, or
consulting |
| |||||||
| |||||||
1 | skills, or other attestation engagements which may be gained | ||||||
2 | through employment in government,
industry, academia, or | ||||||
3 | public practice.
| ||||||
4 | If the applicant's certificate as a certified public | ||||||
5 | accountant from the Board or the applicant's registration as a | ||||||
6 | Registered Certified Public Accountant registered certified | ||||||
7 | public accountant from the Department was issued more than 4 | ||||||
8 | years prior to the
application for a license under this | ||||||
9 | Section, the applicant shall
submit any evidence the Department | ||||||
10 | may require showing the
applicant has
completed not less than | ||||||
11 | 90 hours of continuing professional education
acceptable to the | ||||||
12 | Department
within the 3 years immediately
preceding the date
of | ||||||
13 | application.
| ||||||
14 | (b) All partnerships, limited liability companies, or | ||||||
15 | corporations, or
other entities engaged in the practice of | ||||||
16 | public accounting in this State and
meeting the following | ||||||
17 | requirements:
| ||||||
18 | (1) (Blank).
| ||||||
19 | (2) A majority of the ownership of the firm, in terms | ||||||
20 | of
financial interests and voting rights of all partners,
| ||||||
21 | officers, shareholders, members, or managers, belongs to
| ||||||
22 | persons licensed in some state, and the partners, officers,
| ||||||
23 | shareholders, members, or managers whose principal place | ||||||
24 | of
business is in this State and who perform accountancy | ||||||
25 | activities practice public accounting
in this State, as | ||||||
26 | defined in paragraph (1) of Section 8.05 8 of this Act, |
| |||||||
| |||||||
1 | hold a
valid license issued by this State. An individual | ||||||
2 | exercising the practice privilege afforded under Section | ||||||
3 | 5.2 who performs services for which a firm license is | ||||||
4 | required under subsection (d) of Section 5.2 shall not be | ||||||
5 | required to obtain an individual license under this Act.
| ||||||
6 | (3) It shall be lawful for a nonprofit cooperative | ||||||
7 | association engaged
in rendering an auditing and | ||||||
8 | accounting service to its members only, to
continue to | ||||||
9 | render that service provided that the rendering of auditing | ||||||
10 | and
accounting service by the cooperative association | ||||||
11 | shall at all times be under
the control and supervision of | ||||||
12 | licensed certified public accountants.
| ||||||
13 | (4) The Department may adopt rules and regulations as
| ||||||
14 | necessary to provide
for the practice of public accounting | ||||||
15 | by business entities that may be
otherwise authorized by | ||||||
16 | law to conduct business in Illinois.
| ||||||
17 | (5) A majority of the ownership of the firm, in terms | ||||||
18 | of financial interests and voting rights of all partners, | ||||||
19 | officers, shareholders, members, or managers, belongs to | ||||||
20 | the person or persons that hold a valid registered CPA | ||||||
21 | credential in some state, and the partners, officers, | ||||||
22 | shareholders, members, or managers whose principal place | ||||||
23 | of business is in this State and hold a valid registration | ||||||
24 | issued by this State. | ||||||
25 | (Source: P.A. 95-386, eff. 1-1-08.)
|
| |||||||
| |||||||
1 | (225 ILCS 450/14.1)
| ||||||
2 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
3 | Sec. 14.1. Foreign accountants. The Department may shall | ||||||
4 | issue a
license as a licensed CPA to a
holder of a foreign | ||||||
5 | designation, granted in a foreign country entitling the
holder | ||||||
6 | thereof to engage in the practice of public accounting , | ||||||
7 | provided that:
| ||||||
8 | (a) the applicant is the holder of a certificate as a | ||||||
9 | certified public accountant from the Board or a | ||||||
10 | registration as a registered certified public accountant | ||||||
11 | from the Department
issued under
this Act;
| ||||||
12 | (b) the foreign authority that granted the designation | ||||||
13 | makes similar
provision to allow a person who holds a valid | ||||||
14 | license issued by this State to
obtain a foreign | ||||||
15 | authority's comparable designation;
| ||||||
16 | (c) the foreign designation (i) was duly issued by a | ||||||
17 | foreign authority that
regulates the practice of public | ||||||
18 | accounting and the foreign designation has not
expired or | ||||||
19 | been revoked or suspended; (ii) entitles the holder to | ||||||
20 | issue reports
upon financial statements; and (iii) was | ||||||
21 | issued upon the basis of educational,
examination, and | ||||||
22 | experience requirements established by the foreign | ||||||
23 | authority
or by law; and
| ||||||
24 | (d) the applicant (i) received the designation based on | ||||||
25 | standards
substantially equivalent to those in effect in | ||||||
26 | this State at the time the
foreign designation was granted; |
| |||||||
| |||||||
1 | and (ii) completed an experience requirement,
| ||||||
2 | substantially equivalent to the requirement set out in | ||||||
3 | Section 14, in the
jurisdiction that granted the foreign | ||||||
4 | designation or has completed 5 years of
experience in the | ||||||
5 | practice of public accounting in this State, or meets
| ||||||
6 | equivalent requirements prescribed by the Department by | ||||||
7 | rule,
within the 10
years immediately preceding the | ||||||
8 | application.
| ||||||
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 | shall be forfeited, and the applicant must reapply and meet the | ||||||
13 | requirements in effect at the time of reapplication.
| ||||||
14 | (Source: P.A. 95-331, eff. 8-21-07.)
| ||||||
15 | (225 ILCS 450/14.2)
| ||||||
16 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
17 | Sec. 14.2. Licensure by endorsement.
| ||||||
18 | (a) The Department shall issue a
license as a licensed | ||||||
19 | certified public accountant to any applicant
who holds a valid | ||||||
20 | license or similar certification certificate as a certified | ||||||
21 | public accountant issued from any state by the
Board of | ||||||
22 | Examiners or similar certification from another jurisdiction | ||||||
23 | with equivalent educational requirements and examination | ||||||
24 | standards, applies to the Department on forms supplied by the | ||||||
25 | Department, and pays the required fee,
provided:
|
| |||||||
| |||||||
1 | (1) the individual applicant is determined by the | ||||||
2 | Department
to possess
qualifications substantially | ||||||
3 | equivalent to this State's current
licensing requirements;
| ||||||
4 | (2) at the time the applicant received his or her | ||||||
5 | current valid and
unrevoked license or permit, the | ||||||
6 | applicant possessed qualifications
substantially | ||||||
7 | equivalent to the qualifications for licensure then in | ||||||
8 | effect in
this State; or
| ||||||
9 | (3) the applicant has, after passing the examination | ||||||
10 | upon which his or her
license or other permit to practice | ||||||
11 | was based, not less than 4 years of
experience as outlined | ||||||
12 | in Section 14 of this Act in the practice of public | ||||||
13 | accounting within the 10 years immediately
before the | ||||||
14 | application.
| ||||||
15 | (b) In determining the substantial equivalency of any
| ||||||
16 | state's requirements to Illinois' requirements, the
Department | ||||||
17 | may rely on the determinations of the National
Qualification | ||||||
18 | Appraisal Service of the National Association
of State Boards | ||||||
19 | of Accountancy or such other qualification
appraisal service as | ||||||
20 | it deems appropriate.
| ||||||
21 | (c) Applicants have 3 years from the date of application to | ||||||
22 | complete the application process. If the process has not been | ||||||
23 | completed in 3 years, the application shall be denied, the fee | ||||||
24 | shall be forfeited, and the applicant must reapply and meet the | ||||||
25 | requirements in effect at the time of reapplication.
| ||||||
26 | (Source: P.A. 92-457, eff. 7-1-04; 93-683, eff. 7-2-04.)
|
| |||||||
| |||||||
1 | (225 ILCS 450/14.3)
| ||||||
2 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
3 | Sec. 14.3. Additional requirements for firms. In
addition | ||||||
4 | to the ownership requirements set forth in subsection (b) of | ||||||
5 | Section
14, all firms licensed under this Act shall meet the
| ||||||
6 | following requirements:
| ||||||
7 | (a) All owners of the firm, whether licensed or not, shall
| ||||||
8 | be active participants in the firm or its affiliated
entities.
| ||||||
9 | (b) An individual who supervises services for which a
| ||||||
10 | license is required under paragraph (1) of Section 8.05 8 of | ||||||
11 | this Act, who signs
or authorizes another to sign any report | ||||||
12 | for which a license
is required under paragraph (1) of Section | ||||||
13 | 8.05 8 of this Act, or who supervises services for which a firm | ||||||
14 | license is required under subsection (d) of Section 5.2 of this | ||||||
15 | Act shall hold a valid,
active Licensed Certified Public | ||||||
16 | Accountant license from this State or another state and shall | ||||||
17 | comply with such
additional experience requirements as may be | ||||||
18 | required by rule
of the Department.
| ||||||
19 | (c) The firm shall require that all owners of the
firm, | ||||||
20 | whether or not certified or licensed under this Act,
comply | ||||||
21 | with rules promulgated under this Act.
| ||||||
22 | (d) The firm shall designate to the Department in
writing | ||||||
23 | an individual licensed under this Act or, in the case of a firm | ||||||
24 | that must have a license pursuant to subsection (b) of Section | ||||||
25 | 13 of this Act, a licensee of another state who meets the |
| |||||||
| |||||||
1 | requirements set out in item (1) or (2) of subsection (a) of | ||||||
2 | Section 5.2 of this Act, who shall be
responsible for the | ||||||
3 | proper registration of the firm.
| ||||||
4 | (e) Applicants have 3 years from the date of application to | ||||||
5 | complete the application process. If the process has not been | ||||||
6 | completed in 3 years, the application shall be denied, the fee | ||||||
7 | shall be forfeited, and the applicant must reapply and meet the | ||||||
8 | requirements in effect at the time of reapplication.
| ||||||
9 | (Source: P.A. 94-779, eff. 5-19-06; 95-386, eff. 1-1-08.)
| ||||||
10 | (225 ILCS 450/16) (from Ch. 111, par. 5517)
| ||||||
11 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
12 | Sec. 16. Expiration and renewal of licenses; renewal of | ||||||
13 | registration;
continuing education. | ||||||
14 | (a) The expiration date and renewal period for each license
| ||||||
15 | issued under this Act shall be set by rule.
| ||||||
16 | (b) Every holder of a license or registration under this | ||||||
17 | Act may renew such license or registration before the | ||||||
18 | expiration date upon payment of the required renewal fee as set | ||||||
19 | by rule.
| ||||||
20 | (c) Every application for renewal of a license by a | ||||||
21 | licensed certified public accountant who has been licensed | ||||||
22 | under this Act for 3 years or more shall be accompanied or | ||||||
23 | supported by any evidence the Department shall prescribe, in | ||||||
24 | satisfaction of completing, each 3 years, not less than 120 | ||||||
25 | hours of continuing professional education as prescribed by |
| |||||||
| |||||||
1 | Department rules programs in subjects given by continuing | ||||||
2 | education sponsors registered by the Department upon | ||||||
3 | recommendation of the Committee . Of the 120 hours, not less | ||||||
4 | than 4 hours shall be courses covering the subject of | ||||||
5 | professional ethics. All continuing education sponsors | ||||||
6 | applying to the Department for registration shall be required | ||||||
7 | to submit an initial nonrefundable application fee set by | ||||||
8 | Department rule. Each registered continuing education sponsor | ||||||
9 | shall be required to pay an annual renewal fee set by | ||||||
10 | Department rule. Publicly supported colleges, universities, | ||||||
11 | and governmental agencies located in Illinois are exempt from | ||||||
12 | payment of any fees required for continuing education sponsor | ||||||
13 | registration. Failure by a continuing education sponsor to be | ||||||
14 | licensed or pay the fees prescribed in this Act, or to comply | ||||||
15 | with the rules and regulations established by the Department | ||||||
16 | under this Section regarding requirements for continuing | ||||||
17 | education courses or sponsors, shall constitute grounds for | ||||||
18 | revocation or denial of renewal of the sponsor's registration. | ||||||
19 | (d) Licensed Certified Public Accountants are exempt from | ||||||
20 | the continuing professional education requirement for the | ||||||
21 | first renewal period following the original issuance of the | ||||||
22 | license. | ||||||
23 | Notwithstanding the provisions of subsection (c), the | ||||||
24 | Department may accept courses and sponsors approved by other | ||||||
25 | states, by the American Institute of Certified Public | ||||||
26 | Accountants, by other state CPA societies, or by national |
| |||||||
| |||||||
1 | accrediting organizations such as the National Association of | ||||||
2 | State Boards of Accountancy. | ||||||
3 | Failure by an applicant for renewal of a license as a | ||||||
4 | licensed certified public accountant to furnish the evidence | ||||||
5 | shall constitute grounds for disciplinary action, unless the | ||||||
6 | Department in its discretion shall determine the failure to | ||||||
7 | have been due to reasonable cause. The Department, 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 | and individual orders in respect of requirements of continuing | ||||||
13 | education, the Department in its discretion may, among other | ||||||
14 | things, use and rely upon guidelines and pronouncements of | ||||||
15 | recognized educational and professional associations; may | ||||||
16 | prescribe rules for the content, duration, and organization of | ||||||
17 | courses; shall take into account the accessibility to | ||||||
18 | applicants of such continuing education as it may require, and | ||||||
19 | any impediments to interstate practice of public accounting | ||||||
20 | that may result from differences in requirements in other | ||||||
21 | states; and may provide for relaxation or suspension of | ||||||
22 | requirements in regard to applicants who certify that they do | ||||||
23 | not intend to engage in the performance of accountancy | ||||||
24 | activities practice of public accounting , and for instances of | ||||||
25 | individual hardship. | ||||||
26 | The Department shall establish by rule a means for the |
| |||||||
| |||||||
1 | verification of completion of the continuing education | ||||||
2 | required by this Section. This verification may be accomplished | ||||||
3 | through audits of records maintained by licensees; by requiring | ||||||
4 | the filing of continuing education certificates with the | ||||||
5 | Department; or by other means established by the Department. | ||||||
6 | The Department may establish, by rule, guidelines for | ||||||
7 | acceptance of continuing education on behalf of licensed | ||||||
8 | certified public accountants taking continuing education | ||||||
9 | courses in other jurisdictions.
| ||||||
10 | (e) For renewals on and after July 1, 2012, as a condition | ||||||
11 | for granting a renewal license to firms and sole practitioners | ||||||
12 | who perform accountancy activities outlined in paragraph (1) of | ||||||
13 | Section 8.05 provide services requiring a license under this | ||||||
14 | Act, the Department shall require that the firm or sole | ||||||
15 | practitioner satisfactorily complete a peer review during the | ||||||
16 | immediately preceding 3-year period, accepted by a Peer Review | ||||||
17 | Administrator in accordance with established standards for | ||||||
18 | performing and reporting on peer reviews, unless the firm or | ||||||
19 | sole practitioner is exempted under the provisions of | ||||||
20 | subsection (i) of this Section. A firm or sole practitioner | ||||||
21 | shall, at the request of the Department, submit to the | ||||||
22 | Department a letter from the Peer Review Administrator stating | ||||||
23 | the date on which the peer review was satisfactorily completed. | ||||||
24 | A new firm or sole practitioner not subject to subsection | ||||||
25 | (l) of this Section shall undergo its first peer review during | ||||||
26 | the first full renewal cycle after it is granted its initial |
| |||||||
| |||||||
1 | license.
| ||||||
2 | The requirements of this subsection (e) shall not apply to | ||||||
3 | any person providing services requiring a license under this | ||||||
4 | Act to the extent that such services are provided in the | ||||||
5 | capacity of an employee of the Office of the Auditor General or | ||||||
6 | to a nonprofit cooperative association engaged in the rendering | ||||||
7 | of licensed service to its members only under paragraph (3) of | ||||||
8 | subsection (b) of Section 14 of this Act or any of its | ||||||
9 | employees to the extent that such services are provided in the | ||||||
10 | capacity of an employee of the association. | ||||||
11 | (f) The Department shall approve only Peer Review | ||||||
12 | Administrators that the Department finds comply with | ||||||
13 | established standards for performing and reporting on peer | ||||||
14 | reviews. The Department may adopt rules establishing | ||||||
15 | guidelines for peer reviews, which shall do all of the | ||||||
16 | following:
| ||||||
17 | (1) Require that a peer review be conducted by a | ||||||
18 | reviewer that is independent of the firm reviewed and | ||||||
19 | approved by the Peer Review Administrator under | ||||||
20 | established standards. | ||||||
21 | (2) Other than in the peer review process, prohibit the | ||||||
22 | use or public disclosure of information obtained by the | ||||||
23 | reviewer, the Peer Review Administrator, or the Department | ||||||
24 | during or in connection with the peer review process. The | ||||||
25 | requirement that information not be publicly disclosed | ||||||
26 | shall not apply to a hearing before the Department that the |
| |||||||
| |||||||
1 | firm or sole practitioner requests be public or to the | ||||||
2 | information described in paragraph (3) of subsection (i) of | ||||||
3 | this Section. | ||||||
4 | (g) If a firm or sole practitioner fails to satisfactorily | ||||||
5 | complete a peer review as required by subsection (e) of this | ||||||
6 | Section or does not comply with any remedial actions determined | ||||||
7 | necessary by the Peer Review Administrator, the Peer Review | ||||||
8 | Administrator shall notify the Department of the failure and | ||||||
9 | shall submit a record with specific references to the rule, | ||||||
10 | statutory provision, professional standards, or other | ||||||
11 | applicable authority upon which the Peer Review Administrator | ||||||
12 | made its determination and the specific actions taken or failed | ||||||
13 | to be taken by the licensee that in the opinion of the Peer | ||||||
14 | Review Administrator constitutes a failure to comply. The | ||||||
15 | Department may at its discretion or shall upon submission of a | ||||||
16 | written application by the firm or sole practitioner hold a | ||||||
17 | hearing under Section 20.1 of this Act to determine whether the | ||||||
18 | firm or sole practitioner has complied with subsection (e) of | ||||||
19 | this Section. The hearing shall be confidential and shall not | ||||||
20 | be open to the public unless requested by the firm or sole | ||||||
21 | practitioner. | ||||||
22 | (h) The firm or sole practitioner reviewed shall pay for | ||||||
23 | any peer review performed. The Peer Review Administrator may | ||||||
24 | charge a fee to each firm and sole practitioner sufficient to | ||||||
25 | cover costs of administering the peer review program. | ||||||
26 | (i) A firm or sole practitioner shall be exempt from the |
| |||||||
| |||||||
1 | requirement to undergo a peer review if: | ||||||
2 | (1) Within 3 years before the date of application for | ||||||
3 | renewal licensure, the sole practitioner or firm has | ||||||
4 | undergone a peer review conducted in another state or | ||||||
5 | foreign jurisdiction that meets the requirements of | ||||||
6 | paragraphs (1) and (2) of subsection (f) of this Section. | ||||||
7 | The sole practitioner or firm shall , at the request of the | ||||||
8 | Department, submit to the Department a letter from the | ||||||
9 | organization administering the most recent peer review | ||||||
10 | stating the date on which the peer review was completed; or | ||||||
11 | (2) The sole practitioner or firm satisfies all of the | ||||||
12 | following conditions: | ||||||
13 | (A) during the preceding 2 years, the firm or sole | ||||||
14 | practitioner has not accepted or performed any | ||||||
15 | services requiring a license under this Act; | ||||||
16 | (B) the firm or sole practitioner agrees to notify | ||||||
17 | the Department within 30 days of accepting an | ||||||
18 | engagement for services requiring a license under this | ||||||
19 | Act and to undergo a peer review within 18 months after | ||||||
20 | the end of the period covered by the engagement; or | ||||||
21 | (3) For reasons of personal health, military service, | ||||||
22 | or other good cause, the Department determines that the | ||||||
23 | sole practitioner or firm is entitled to an exemption, | ||||||
24 | which may be granted for a period of time not to exceed 12 | ||||||
25 | months. | ||||||
26 | (j) If a peer review report indicates that a firm or sole |
| |||||||
| |||||||
1 | practitioner complies with the appropriate professional | ||||||
2 | standards and practices set forth in the rules of the | ||||||
3 | Department and no further remedial action is required, the Peer | ||||||
4 | Review Administrator shall, after issuance of the final letter | ||||||
5 | of acceptance, destroy all working papers and documents related | ||||||
6 | to the peer review, other than report-related documents and | ||||||
7 | documents evidencing completion of remedial actions, if any, in | ||||||
8 | accordance with rules established by the Department. | ||||||
9 | (k) (Blank). | ||||||
10 | (Source: P.A. 96-945, eff. 6-25-10.)
| ||||||
11 | (225 ILCS 450/17.1) (from Ch. 111, par. 5518.1)
| ||||||
12 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
13 | Sec. 17.1. (a) Any registered certified public accountant | ||||||
14 | who has permitted his or her registration to expire or who has | ||||||
15 | had his or her registration on inactive status may have his or | ||||||
16 | her registration restored by making application to the | ||||||
17 | Department and filing proof acceptable to the Department as | ||||||
18 | defined by rule of his or her fitness to have his or her | ||||||
19 | registration restored, which may include sworn evidence | ||||||
20 | certifying to active practice in another jurisdiction | ||||||
21 | satisfactory to the Department and by paying the required | ||||||
22 | restoration fee.
| ||||||
23 | (b) Any licensed certified public accountant who has | ||||||
24 | permitted
his or her license to expire
or who has had his or | ||||||
25 | her license on inactive status may have his or her license |
| |||||||
| |||||||
1 | restored
by making application to the Department and filing | ||||||
2 | proof
acceptable to the
Department as defined by rule of his or | ||||||
3 | her fitness to have his or her license restored, including
| ||||||
4 | sworn
evidence certifying to active practice in another | ||||||
5 | jurisdiction satisfactory
to the Department and by paying the | ||||||
6 | required restoration fee
and by submitting proof of the
| ||||||
7 | required continuing education.
| ||||||
8 | (c) If the licensed certified public accountant or | ||||||
9 | registered certified public accountant has not maintained an | ||||||
10 | active
practice in another
jurisdiction satisfactory to the | ||||||
11 | Department, the Department shall determine,
by an evaluation | ||||||
12 | program established by rule, fitness to resume active status
| ||||||
13 | and may require the applicant to complete a period of | ||||||
14 | supervised
experience.
| ||||||
15 | (d) However, any licensed certified public accountant or | ||||||
16 | registered certified public accountant whose license or | ||||||
17 | registration expired
while he was (1) in
Federal Service on | ||||||
18 | active duty with the Armed Forces of the United States,
or the | ||||||
19 | State Militia called into service or training, or (2) in | ||||||
20 | training
or education under the supervision of the United | ||||||
21 | States preliminary to
induction
into the military service, may | ||||||
22 | have his license or registration renewed reinstated or restored
| ||||||
23 | without
paying any lapsed renewal and restoration fees if | ||||||
24 | within 2 years after
honorable termination
of such service, | ||||||
25 | training or education except under conditions other than
| ||||||
26 | honorable, he furnished
the Department with satisfactory |
| |||||||
| |||||||
1 | evidence to the effect that he
has been
so engaged and that his | ||||||
2 | service, training or education has been so terminated.
| ||||||
3 | (Source: P.A. 92-457, eff. 7-1-04; 93-683, eff. 7-2-04.)
| ||||||
4 | (225 ILCS 450/17.2) (from Ch. 111, par. 5518.2)
| ||||||
5 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
6 | Sec. 17.2. Inactive status. | ||||||
7 | (a) Any licensed certified public accountant or Registered | ||||||
8 | Certified Public Accountant who notifies the
Department in | ||||||
9 | writing
on forms prescribed by the Department, may elect to | ||||||
10 | place his
license or registration on
an inactive status and | ||||||
11 | shall, subject to rules of the Department,
be excused
from | ||||||
12 | payment of renewal fees until he notifies the Department in
| ||||||
13 | writing
of his desire to resume active status.
| ||||||
14 | (b) Any licensed certified public accountant requesting | ||||||
15 | restoration from
inactive status shall
be required to pay the | ||||||
16 | current renewal fee, shall be required to submit
proof of the | ||||||
17 | required continuing education,
and shall be required to comply | ||||||
18 | with any requirements established by rule restore
his license, | ||||||
19 | as provided in this Act .
| ||||||
20 | (c) Any Registered Certified Public Accountant requesting | ||||||
21 | restoration from inactive status shall be required to pay the | ||||||
22 | current renewal fee and shall be required to comply with any | ||||||
23 | requirements established by rule.
| ||||||
24 | (d) Any licensed certified public accountant who is not a | ||||||
25 | registered certified public accountant and wishes to continue |
| |||||||
| |||||||
1 | using the CPA title and whose license is in an inactive
status | ||||||
2 | shall not perform accountancy activities outlined in Section | ||||||
3 | 8.05 of this Act and must place the word "inactive" adjacent to | ||||||
4 | the CPA title not
practice public accounting in this State of | ||||||
5 | Illinois . A CPA (inactive) is exempt from any continuing | ||||||
6 | professional education requirement. A CPA (inactive) may | ||||||
7 | perform governance functions on a non-profit volunteer board | ||||||
8 | using his or her accountancy skills and competencies if:
| ||||||
9 | (1) he or she discloses to the non-profit volunteer | ||||||
10 | board and respective committees that he or she is a CPA | ||||||
11 | (inactive); and | ||||||
12 | (2) he or she is not serving as an audit committee | ||||||
13 | financial expert as defined in Section 407 of the federal | ||||||
14 | Sarbanes-Oxley Act of 2002. | ||||||
15 | (e) Any Registered Certified Public Accountant whose | ||||||
16 | registration is in an inactive status shall not in any manner | ||||||
17 | hold himself or herself out to the public as a CPA C.P.A. or | ||||||
18 | R.C.P.A .
| ||||||
19 | The Department may, in its discretion, license as a | ||||||
20 | licensed
certified public accountant,
on payment of the | ||||||
21 | required fee, an applicant who is a licensed certified
public | ||||||
22 | accountant
licensed under the laws of another jurisdiction if | ||||||
23 | the requirements for
licensure of licensed certified public | ||||||
24 | accountants in the jurisdiction in
which the applicant
was | ||||||
25 | licensed were, at the date of his licensure, substantially | ||||||
26 | equivalent
to the requirements in force in this State on that |
| |||||||
| |||||||
1 | date.
| ||||||
2 | Applicants have 3 years from the date of application to | ||||||
3 | complete the
application process. If the process has not been | ||||||
4 | completed in 3 years,
the application shall be denied, the fee | ||||||
5 | forfeited and the applicant must
reapply and meet the | ||||||
6 | requirements in effect at the time of reapplication.
| ||||||
7 | (Source: P.A. 92-457, eff. 7-1-04; 93-683, eff. 7-2-04.)
| ||||||
8 | (225 ILCS 450/19) (from Ch. 111, par. 5520)
| ||||||
9 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
10 | Sec. 19. Hearings. | ||||||
11 | (a) The Committee established under the provisions of | ||||||
12 | Section 2.05 shall, upon designation by the Secretary Director , | ||||||
13 | hear charges
which, if proved,
would constitute grounds for | ||||||
14 | disciplinary action; shall hear applications for
restoration | ||||||
15 | of a license and the issuance of a license or registration as a | ||||||
16 | licensed certified public
accountant or registered certified | ||||||
17 | public accountant of any person, partnership, limited | ||||||
18 | liability company, or
corporation whose license or | ||||||
19 | registration has been suspended or revoked; and
shall report | ||||||
20 | its
findings and recommendations in connection therewith to the | ||||||
21 | Secretary Director , all as
provided in Section 20.1 20.01 . The | ||||||
22 | Department shall also
have power to
promulgate and amend rules | ||||||
23 | of professional conduct that shall apply to
persons registered | ||||||
24 | or licensed under this Act.
| ||||||
25 | (b) In rendering an order, the Department shall take into |
| |||||||
| |||||||
1 | consideration the facts and circumstances involving the type of | ||||||
2 | acts or omissions in subsection (a), including, but not limited | ||||||
3 | to: | ||||||
4 | (1) the extent to which public confidence in the public | ||||||
5 | accounting profession was, might have been, or may be | ||||||
6 | injured; | ||||||
7 | (2) the degree of trust and dependence among the | ||||||
8 | involved parties; | ||||||
9 | (3) the character and degree of financial or economic | ||||||
10 | harm that did or might have resulted; and | ||||||
11 | (4) the intent or mental state of the person charged at | ||||||
12 | the time of the acts or omissions. | ||||||
13 | (c) The Department shall reissue the license or | ||||||
14 | registration upon a showing that the disciplined licensee or | ||||||
15 | registrant has complied with all of the terms and conditions | ||||||
16 | set forth in the final order. | ||||||
17 | (Source: P.A. 92-457, eff. 7-1-04; 93-683, eff. 7-2-04.)
| ||||||
18 | (225 ILCS 450/20.01) (from Ch. 111, par. 5521.01)
| ||||||
19 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
20 | Sec. 20.01. Grounds for discipline; license or | ||||||
21 | registration.
| ||||||
22 | (a) The Department may refuse to issue or renew, or may | ||||||
23 | revoke, suspend, or
reprimand any registration or registrant,
| ||||||
24 | any license or licensee, place a licensee or registrant on | ||||||
25 | probation for a period
of time subject to any conditions the |
| |||||||
| |||||||
1 | Department may specify including requiring
the licensee or | ||||||
2 | registrant to attend continuing education courses or to work | ||||||
3 | under the
supervision of another licensee or registrant, impose | ||||||
4 | a fine not to exceed $10,000 $5,000 for each
violation, | ||||||
5 | restrict the authorized scope of practice, or require a | ||||||
6 | licensee
or registrant to undergo a peer review program, for | ||||||
7 | any one or more of the following:
| ||||||
8 | (1) Violation of any provision of this Act or rule | ||||||
9 | adopted by the Department under this Act or violation of | ||||||
10 | professional standards .
| ||||||
11 | (2) Dishonesty, fraud, or deceit in obtaining a license | ||||||
12 | or registration. Attempting to procure a license or | ||||||
13 | registration to practice under this Act by
bribery or | ||||||
14 | fraudulent misrepresentations.
| ||||||
15 | (3) Cancellation, revocation, suspension, or refusal | ||||||
16 | to renew a license or privileges under Section 5.2 for | ||||||
17 | disciplinary reasons in any other state for any cause. | ||||||
18 | Having a license to practice public accounting or | ||||||
19 | registration revoked, suspended,
or otherwise acted | ||||||
20 | against, including the denial of licensure or | ||||||
21 | registration, by the licensing or registering
authority of | ||||||
22 | another state, territory, or country, including but not | ||||||
23 | limited to the District of Columbia, or any United States
| ||||||
24 | territory. No disciplinary action shall be taken in | ||||||
25 | Illinois if the action
taken in another jurisdiction was | ||||||
26 | 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) Failure, on the part of a licensee under Section 13 | ||||||
5 | or registrant under Section 16, to maintain compliance with | ||||||
6 | the requirements for issuance or renewal of a license, | ||||||
7 | permit, or registration or to report changes to the | ||||||
8 | Department. Being convicted or found guilty, regardless of | ||||||
9 | adjudication, of a
crime in any jurisdiction which directly | ||||||
10 | relates to the practice of public
accounting or the ability | ||||||
11 | to practice public accounting or as a Registered Certified | ||||||
12 | Public Accountant.
| ||||||
13 | (5) Revocation or suspension of the right to practice | ||||||
14 | by or before any state or federal regulatory authority or | ||||||
15 | by the Public Company Accounting Oversight Board. Making or | ||||||
16 | filing a report or record which the registrant or licensee | ||||||
17 | knows to
be false, willfully failing to file a report or | ||||||
18 | record required by state
or federal law, willfully impeding | ||||||
19 | or obstructing the filing, or inducing
another person to | ||||||
20 | impede or obstruct the filing. The reports or records shall
| ||||||
21 | include only those that are signed in the capacity of a | ||||||
22 | licensed certified
public accountant or a registered | ||||||
23 | certified public accountant.
| ||||||
24 | (6) Dishonesty, fraud, deceit, or gross negligence in | ||||||
25 | the performance of services as a licensee or registrant or | ||||||
26 | individual granted privileges under Section 5.2. |
| |||||||
| |||||||
1 | Conviction in this or another State or the District of | ||||||
2 | Columbia, or
any United States Territory, of any crime that | ||||||
3 | is punishable by one year or
more in prison or conviction | ||||||
4 | of a crime in a federal court that is punishable
by one | ||||||
5 | year or more in prison.
| ||||||
6 | (7) Conviction of a felony, or any other crime an | ||||||
7 | element of which is dishonesty, fraud, or deceit, under the | ||||||
8 | laws of the United States, of this State, or of any other | ||||||
9 | state if the acts involved would have constituted a crime | ||||||
10 | under the laws of this State. Proof that the licensee or | ||||||
11 | registrant is guilty of fraud or deceit, or of gross
| ||||||
12 | negligence, incompetency, or misconduct, in the practice | ||||||
13 | of public
accounting.
| ||||||
14 | (8) Performance of any fraudulent act while holding a | ||||||
15 | license or privilege issued under this Act or prior law. | ||||||
16 | Violation of any rule adopted under this Act.
| ||||||
17 | (9) Any conduct reflecting adversely upon the | ||||||
18 | licensee's fitness to perform services while a licensee or | ||||||
19 | individual granted privileges under Section 5.2. | ||||||
20 | Practicing on a revoked, suspended, or inactive license or | ||||||
21 | registration.
| ||||||
22 | (10) Making any false or misleading statement or | ||||||
23 | verification in support of an application for a license | ||||||
24 | filed by another. Suspension or revocation of the right to | ||||||
25 | practice before any
state or federal agency.
| ||||||
26 | (11) Conviction of any crime under the laws of the |
| |||||||
| |||||||
1 | United States or any
state or territory of the United | ||||||
2 | States that is a felony or misdemeanor and
has dishonesty | ||||||
3 | as an essential element, or of any crime that is directly
| ||||||
4 | related to the practice of the profession.
| ||||||
5 | (12) Making any misrepresentation for the purpose of | ||||||
6 | obtaining a license,
or registration or material | ||||||
7 | misstatement in furnishing information to the Department.
| ||||||
8 | (13) Aiding or assisting another person in violating | ||||||
9 | any provision of
this Act or rules promulgated hereunder.
| ||||||
10 | (14) Engaging in dishonorable, unethical, or | ||||||
11 | unprofessional conduct of a
character likely to deceive, | ||||||
12 | defraud, or harm the public.
| ||||||
13 | (15) Habitual or excessive use or addiction to alcohol, | ||||||
14 | narcotics,
stimulants, or any other chemical agent or drug | ||||||
15 | that results in the inability
to practice with reasonable | ||||||
16 | skill, judgment, or safety.
| ||||||
17 | (16) Directly or indirectly giving to or receiving from | ||||||
18 | any person, firm,
corporation, partnership, or association | ||||||
19 | any fee, commission, rebate, or other
form of compensation | ||||||
20 | for any professional service not actually rendered.
| ||||||
21 | (17) Physical or mental disability, including | ||||||
22 | deterioration through the
aging process or loss of | ||||||
23 | abilities and skills that results in the inability to
| ||||||
24 | practice the profession with reasonable judgment, skill or | ||||||
25 | safety.
| ||||||
26 | (18) Solicitation of professional services by using |
| |||||||
| |||||||
1 | false or misleading
advertising.
| ||||||
2 | (11) (19) Failure to file a return, or pay the tax, | ||||||
3 | penalty or interest shown
in a filed return, or to pay any | ||||||
4 | final assessment of tax, penalty or interest,
as required | ||||||
5 | by any tax Act administered by the Illinois Department of | ||||||
6 | Revenue
or any successor agency or the Internal Revenue | ||||||
7 | Service or any successor
agency.
| ||||||
8 | (20) Practicing or attempting to practice under a name | ||||||
9 | other than the
full name as shown on the license or | ||||||
10 | registration or any other legally authorized name.
| ||||||
11 | (21) A finding by the Department that a licensee or | ||||||
12 | registrant has not complied with a
provision of any lawful | ||||||
13 | order issued by the Department.
| ||||||
14 | (22) Making a false statement to the Department
| ||||||
15 | regarding compliance with
continuing professional | ||||||
16 | education or peer review requirements.
| ||||||
17 | (12) (23) Failing to make a substantive response to a | ||||||
18 | request for information
by the Department within 30 days of | ||||||
19 | the request.
| ||||||
20 | (a-5) The Department shall deny any application for a | ||||||
21 | license, registration, or renewal, without hearing, to any | ||||||
22 | person who has defaulted on an educational loan guaranteed by | ||||||
23 | the Illinois Student Assistance Commission; however, the | ||||||
24 | Department may issue a license, registration, or renewal if the | ||||||
25 | person in default has established a satisfactory repayment | ||||||
26 | record as determined by the Illinois Student Assistance |
| |||||||
| |||||||
1 | Commission. | ||||||
2 | (b) (Blank).
| ||||||
3 | (c) The determination by a court that a licensee or | ||||||
4 | registrant is subject to involuntary admission or judicial | ||||||
5 | admission as provided in the Mental Health and Developmental | ||||||
6 | Disabilities Code shall result in the automatic suspension of | ||||||
7 | his or her license or registration. The licensee, registrant, | ||||||
8 | or their agent shall be responsible for notifying the | ||||||
9 | Department of the determination by the court that the licensee | ||||||
10 | or registrant is subject to involuntary admission or judicial | ||||||
11 | admission as provided in the Mental Health and Developmental | ||||||
12 | Disabilities Code. The licensee or registrant shall also notify | ||||||
13 | the Department upon discharge so that a determination may be | ||||||
14 | made under item (9) of subsection (a) whether the licensee or | ||||||
15 | registrant may resume practice. In rendering an order, the | ||||||
16 | Department shall take into consideration
the facts and | ||||||
17 | circumstances involving the type of acts or omissions in
| ||||||
18 | subsection (a) including, but not limited to:
| ||||||
19 | (1) the extent to which public confidence in the public | ||||||
20 | accounting
profession was, might have been, or may be | ||||||
21 | injured;
| ||||||
22 | (2) the degree of trust and dependence among the | ||||||
23 | involved parties;
| ||||||
24 | (3) the character and degree of financial or economic | ||||||
25 | harm which did or
might have resulted; and
| ||||||
26 | (4) the intent or mental state of the person charged at |
| |||||||
| |||||||
1 | the time of the
acts or omissions.
| ||||||
2 | (d) (Blank). The Department shall reissue the license or | ||||||
3 | registration upon a showing that the disciplined
licensee or | ||||||
4 | registrant has complied with all of the terms and conditions | ||||||
5 | set forth in the
final order.
| ||||||
6 | (e) (Blank). The Department shall deny any application for | ||||||
7 | a license, registration, or renewal,
without hearing, to any | ||||||
8 | person who has defaulted on an educational loan
guaranteed by | ||||||
9 | the Illinois Student Assistance Commission; however, the
| ||||||
10 | Department
may issue a license, registration, or renewal if the | ||||||
11 | person in default has
established a satisfactory repayment | ||||||
12 | record as determined by the Illinois
Student Assistance | ||||||
13 | Commission.
| ||||||
14 | (f) (Blank). The determination by a court that a licensee | ||||||
15 | or registrant is subject to involuntary
admission or judicial | ||||||
16 | admission as provided in the Mental Health and
Developmental | ||||||
17 | Disabilities Code will result in the automatic suspension of | ||||||
18 | his
or her license or registration. The licensee or registrant | ||||||
19 | shall be responsible for notifying the Department of the | ||||||
20 | determination by the court that the licensee or registrant is | ||||||
21 | subject to involuntary admission or judicial admission as | ||||||
22 | provided in the Mental Health and Developmental Disabilities | ||||||
23 | Code. The licensee or registrant shall also notify the | ||||||
24 | Department upon discharge so that a determination may be made | ||||||
25 | under item (17) of subsection (a) whether the licensee or | ||||||
26 | registrant may resume practice.
|
| |||||||
| |||||||
1 | (Source: P.A. 93-629, eff. 12-23-03; 93-683, eff. 7-2-04; | ||||||
2 | 94-779, eff. 5-19-06.)
| ||||||
3 | (225 ILCS 450/20.1) (from Ch. 111, par. 5522)
| ||||||
4 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
5 | Sec. 20.1. Investigations; notice; hearing. The Department
| ||||||
6 | may, upon
its own motion, and shall, upon the
verified | ||||||
7 | complaint in writing of any person setting forth facts which, | ||||||
8 | if
proved, would constitute grounds for disciplinary action
as | ||||||
9 | set forth in Section 20.01, investigate the actions of any
| ||||||
10 | person or entity. The
Department may refer complaints and | ||||||
11 | investigations to a
disciplinary body
of the accounting | ||||||
12 | profession for technical assistance. The results of
an | ||||||
13 | investigation and recommendations of the disciplinary body
may | ||||||
14 | be considered
by the Department, but shall not be considered | ||||||
15 | determinative and
the Department
shall not in any way be | ||||||
16 | obligated to take any action or be bound by the
results of the | ||||||
17 | accounting profession's disciplinary proceedings. The
| ||||||
18 | Department, before taking disciplinary action, shall afford | ||||||
19 | the
concerned
party or parties an opportunity to request a | ||||||
20 | hearing and if so requested
shall set a time and place for a | ||||||
21 | hearing of the complaint. With respect to determinations by a | ||||||
22 | Peer Review Administrator duly appointed by the Department | ||||||
23 | under subsection (f) of Section 16 of this Act that a licensee | ||||||
24 | has failed to satisfactorily complete a peer review as required | ||||||
25 | under subsection (e) of Section 16, the Department may consider |
| |||||||
| |||||||
1 | the Peer Review Administrator's findings of fact as prima facie | ||||||
2 | evidence, and upon request by a licensee for a hearing the | ||||||
3 | Department shall review the record presented and hear arguments | ||||||
4 | by the licensee or the licensee's counsel but need not conduct | ||||||
5 | a trial or hearing de novo or accept additional evidence. The
| ||||||
6 | Department shall notify the
applicant or the licensed or | ||||||
7 | registered
person or entity of any
charges made and the date | ||||||
8 | and place of the hearing of those charges by
mailing notice | ||||||
9 | thereof to that person or entity by
registered or certified | ||||||
10 | mail to the place last specified by the
accused person or | ||||||
11 | entity in the last
notification to the
Department, at least 30 | ||||||
12 | days prior to the date set for the
hearing or by
serving a | ||||||
13 | written notice by delivery of the notice to the accused
person | ||||||
14 | or entity at least 15 days prior to
the date set
for the | ||||||
15 | hearing, and shall
direct the applicant or licensee or | ||||||
16 | registrant to file a written
answer to the Department
under | ||||||
17 | oath within 20 days after the service of the notice and inform | ||||||
18 | the
applicant or licensee or registrant that failure to file an | ||||||
19 | answer
will result in default
being taken against the applicant | ||||||
20 | or licensee or registrant and that
the license or registration
| ||||||
21 | may be
suspended, revoked, placed on probationary status, or | ||||||
22 | other disciplinary
action may be taken, including limiting the | ||||||
23 | scope, nature or extent of
practice, as the Secretary Director | ||||||
24 | may deem proper.
In case the person fails to file an answer | ||||||
25 | after receiving notice, his or
her license or registration may, | ||||||
26 | in the discretion of the Department, be
suspended, revoked, or |
| |||||||
| |||||||
1 | placed on probationary status, or the Department may
take | ||||||
2 | whatever disciplinary action deemed proper, including limiting | ||||||
3 | the
scope, nature, or extent of the person's practice or the | ||||||
4 | imposition of a
fine, without a hearing, if the act or acts | ||||||
5 | charged constitute sufficient
grounds for such action under | ||||||
6 | this Act.
The Department
shall afford the accused person or | ||||||
7 | entity an
opportunity to be heard
in person or by counsel at | ||||||
8 | the hearing. At the conclusion of
the hearing
the Committee | ||||||
9 | shall present to the Secretary Director a
written report | ||||||
10 | setting forth its finding
of facts, conclusions of law, and | ||||||
11 | recommendations. The report shall contain
a finding whether or | ||||||
12 | not the accused person violated this Act or failed to
comply | ||||||
13 | with the conditions required in this Act. If the Secretary | ||||||
14 | Director disagrees in any regard with the report, he or she may | ||||||
15 | issue an order in contravention of the report. The Secretary | ||||||
16 | Director shall provide a written explanation to the Committee | ||||||
17 | of any such deviations and shall specify with particularity the | ||||||
18 | reasons for the deviations.
| ||||||
19 | The finding is not admissible in evidence against the | ||||||
20 | person in a criminal
prosecution brought for the violation of | ||||||
21 | this Act, but the hearing and
findings are not a bar to a | ||||||
22 | criminal prosecution brought for the violation
of this Act.
| ||||||
23 | (Source: P.A. 93-683, eff. 7-2-04; 94-779, eff. 5-19-06.)
| ||||||
24 | (225 ILCS 450/20.2) (from Ch. 111, par. 5523)
| ||||||
25 | (Section scheduled to be repealed on January 1, 2014)
|
| |||||||
| |||||||
1 | Sec. 20.2. Subpoenas; depositions; oaths. The Department | ||||||
2 | has the power to subpoena documents, books, records, or other | ||||||
3 | materials and to bring before it any person to take testimony, | ||||||
4 | either orally or by deposition, or take written | ||||||
5 | interrogatories, or any combination thereof, with the same fees | ||||||
6 | and mileage in the same manner as is prescribed in civil cases | ||||||
7 | in the courts of this State. | ||||||
8 | The Secretary or the designated hearing officer has the | ||||||
9 | power to administer oaths to witnesses at any hearing that the | ||||||
10 | Department is authorized to conduct and any other oaths | ||||||
11 | authorized in any Act administered by the Department. | ||||||
12 | The Department may subpoena and bring before it at any hearing | ||||||
13 | any
person in this
State and take testimony either orally or by
| ||||||
14 | deposition, or both, with the same fees and mileage and in the | ||||||
15 | same
manner as prescribed by law in judicial proceedings in
| ||||||
16 | civil cases in circuit
courts of this State.
| ||||||
17 | The Director, any member of the Committee designated by the | ||||||
18 | Director, or any hearing officer appointed may administer oaths | ||||||
19 | to witnesses at any hearing which the Department is authorized | ||||||
20 | by law to conduct or any other oaths required or authorized in | ||||||
21 | any Act administered by the Department.
| ||||||
22 | (Source: P.A. 92-457, eff. 7-1-04; 93-683, eff. 7-2-04.)
| ||||||
23 | (225 ILCS 450/20.4) (from Ch. 111, par. 5525)
| ||||||
24 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
25 | Sec. 20.4. The Department, at its expense, shall provide a
|
| |||||||
| |||||||
1 | stenographer to
take down the testimony and preserve a record | ||||||
2 | of all proceedings at
disciplinary
hearings. A The Department | ||||||
3 | shall furnish a transcript of that
record may be made available | ||||||
4 | to
any person interested in that hearing upon payment of the | ||||||
5 | fee required by Section 2105-115 of the Department of | ||||||
6 | Professional Regulation Law of the reasonable cost
established | ||||||
7 | by the Department .
| ||||||
8 | (Source: P.A. 92-457, eff. 7-1-04; 93-683, eff. 7-2-04.)
| ||||||
9 | (225 ILCS 450/20.5) (from Ch. 111, par. 5526)
| ||||||
10 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
11 | Sec. 20.5. Rehearing. In any disciplinary proceeding, a | ||||||
12 | copy of the
Committee's report shall be served upon the | ||||||
13 | respondent by the Department,
either personally or as provided | ||||||
14 | in this Act for the service of the notice of
hearing. Within 20 | ||||||
15 | days after such service, the respondent may present to the
| ||||||
16 | Department a motion in writing for a rehearing, which motion
| ||||||
17 | shall specify the
particular grounds therefor. If no motion for | ||||||
18 | rehearing is filed, then upon
the expiration of the time | ||||||
19 | specified for filing such a motion, or if a motion
or rehearing | ||||||
20 | is denied, then upon such denial the Secretary Director may | ||||||
21 | enter an order in accordance with recommendations of the | ||||||
22 | Committee except as provided in Section 20.6. If the respondent | ||||||
23 | shall order from the reporting
service, and pay for a | ||||||
24 | transcript of the record within the time for filing a
motion | ||||||
25 | for rehearing, the 20 day period within which such a motion may |
| |||||||
| |||||||
1 | be filed
shall commence upon the delivery of the transcript to | ||||||
2 | the respondent.
| ||||||
3 | Whenever the Secretary Director is satisfied that | ||||||
4 | substantial justice has not been done in the disciplinary | ||||||
5 | proceeding, the Secretary Director may order a rehearing by the | ||||||
6 | Committee or designated hearing officer. The Secretary | ||||||
7 | Director shall provide a written explanation to the Committee | ||||||
8 | of any deviation from the recommendations of the Committee and | ||||||
9 | shall specify with particularity the reasons for the deviation.
| ||||||
10 | Upon the suspension or revocation of a registration or | ||||||
11 | license of a registrant or
licensee, the registrant or licensee | ||||||
12 | shall be required
to surrender to the Department the | ||||||
13 | registration or license
issued by the Department, and upon
| ||||||
14 | failure or refusal so to do, the Department may seize it.
| ||||||
15 | The Department 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; 93-683, eff. 7-2-04.)
| ||||||
21 | (225 ILCS 450/20.6) (from Ch. 111, par. 5526.6)
| ||||||
22 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
23 | Sec. 20.6. Notwithstanding the provisions of Section 20.2 | ||||||
24 | of this Act,
the Secretary Director shall have the authority to | ||||||
25 | appoint any attorney
duly licensed
to practice law in the State |
| |||||||
| |||||||
1 | of Illinois to serve as the hearing officer
in any disciplinary | ||||||
2 | action. The Secretary Director shall notify the Committee of | ||||||
3 | such appointment.
| ||||||
4 | The hearing officer shall have full authority to conduct | ||||||
5 | the hearing.
The hearing officer shall report his findings of | ||||||
6 | fact, conclusions of law
and recommendations to the Committee | ||||||
7 | and the Secretary Director . The Committee shall have 60 days | ||||||
8 | after receiving the report to review the report of the hearing | ||||||
9 | officer and present its findings of fact, conclusions of law, | ||||||
10 | and recommendations to the Secretary Director . If the Committee | ||||||
11 | fails to present its report within the 60-day period, the | ||||||
12 | Secretary Director shall issue an order based on the report of | ||||||
13 | the hearing officer. If the Secretary Director disagrees in any | ||||||
14 | regard with the report of the Committee or hearing officer, he | ||||||
15 | or she may issue an order in contravention thereof. The | ||||||
16 | Secretary Director shall provide a written explanation to the | ||||||
17 | Committee of any such deviations and shall specify with | ||||||
18 | particularity the reasons for said action in the final order.
| ||||||
19 | (Source: P.A. 92-457, eff. 7-1-04; 93-683, eff. 7-2-04.)
| ||||||
20 | (225 ILCS 450/21) (from Ch. 111, par. 5527)
| ||||||
21 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
22 | Sec. 21. Judicial review; cost of record; order as prima | ||||||
23 | facie proof.
| ||||||
24 | (a) All final administrative decisions of the
Department
| ||||||
25 | hereunder shall
be subject to judicial review pursuant to the |
| |||||||
| |||||||
1 | provisions of the Administrative
Review Law, and all amendments | ||||||
2 | and modifications thereof, and the rules adopted
pursuant | ||||||
3 | thereto. The term "administrative decision" is defined as in | ||||||
4 | Section
3-101 of the Code of Civil Procedure.
| ||||||
5 | Proceedings for judicial review shall be commenced in the | ||||||
6 | Circuit
Court of the county in which the party applying for | ||||||
7 | review resides; provided,
that if such party is not a resident | ||||||
8 | of this State, the venue shall be in
Sangamon, Champaign, or | ||||||
9 | Cook County.
| ||||||
10 | (b) The Department shall not be required to certify any | ||||||
11 | record
to the
court or file any answer in court or otherwise | ||||||
12 | appear in any court in a
judicial review proceeding, unless | ||||||
13 | there is filed in the court with the
complaint a receipt from | ||||||
14 | the Department acknowledging payment of
the costs of
furnishing | ||||||
15 | and certifying the record, which costs shall be established
by | ||||||
16 | the Department. Exhibits shall be certified without cost.
| ||||||
17 | Failure on the part of the plaintiff to file such receipt in | ||||||
18 | court shall be
grounds for dismissal of the action.
| ||||||
19 | (c) An order of disciplinary action or a certified copy | ||||||
20 | thereof, over
the seal of the Department and purporting to be | ||||||
21 | signed by the
Secretary Director or authorized agent of the | ||||||
22 | Secretary Director , shall be prima
facie
proof, subject to | ||||||
23 | being rebutted, that:
| ||||||
24 | (1) the signature is the genuine signature of the
| ||||||
25 | Secretary Director or authorized agent of the Secretary | ||||||
26 | Director ;
|
| |||||||
| |||||||
1 | (2) the Secretary Director or authorized agent of the | ||||||
2 | Secretary Director is duly
appointed and qualified;
and
| ||||||
3 | (3) the Committee and the members thereof are qualified
| ||||||
4 | to act.
| ||||||
5 | (Source: P.A. 92-457, eff. 7-1-04; 93-683, eff. 7-2-04.)
| ||||||
6 | (225 ILCS 450/28) (from Ch. 111, par. 5534)
| ||||||
7 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
8 | Sec. 28. Criminal penalties Penalties . Each of the | ||||||
9 | following acts perpetrated in the State
of Illinois is a Class | ||||||
10 | B misdemeanor.
| ||||||
11 | (a) The practice of accountancy activities as defined | ||||||
12 | in paragraph (1) of subsection (a) of Section 8.05 without | ||||||
13 | an active license public accounting insofar as it consists | ||||||
14 | in
rendering service as described in Section 8, without | ||||||
15 | licensure, in
violation of the provisions of this Act;
| ||||||
16 | (b) The obtaining or attempting to obtain licensure as | ||||||
17 | a licensed
certified public accountant
or registration as a | ||||||
18 | registered certified public accountant by fraud;
| ||||||
19 | (c) The use of the title "Certified Public Accountant" | ||||||
20 | or the abbreviation "C.P.A." or use of any similar words or | ||||||
21 | letters indicating the user is a certified public | ||||||
22 | accountant , the title "Registered Certified Public | ||||||
23 | Accountant", the abbreviation "R.C.P.A.", any similar | ||||||
24 | words or letters indicating the user is a certified public | ||||||
25 | accountant or a registered certified public accountant by |
| |||||||
| |||||||
1 | any person in contravention of this Act; | ||||||
2 | (c-5) (Blank) The use of the title "Certified Public | ||||||
3 | Accountant" or "Licensed Certified Public Accountant" or | ||||||
4 | the abbreviation "C.P.A." or "L.C.P.A." or any similar | ||||||
5 | words or letters indicating the user is a certified public | ||||||
6 | accountant by any person in contravention with this Act ;
| ||||||
7 | (d) The use of the title
"Certified Public Accountant" | ||||||
8 | or the
abbreviation "C.P.A." or any similar words or | ||||||
9 | letters indicating that the
members are certified public | ||||||
10 | accountants, by any partnership, limited liability | ||||||
11 | company, corporation, or other entity in contravention of | ||||||
12 | this Act unless all
members thereof personally engaged in | ||||||
13 | the practice of public accounting in
this State
are | ||||||
14 | licensed as licensed certified public
accountants by the
| ||||||
15 | Department, and
are holders of an effective unrevoked | ||||||
16 | license, and the partnership, limited liability company, | ||||||
17 | corporation, or other entity
is licensed as licensed | ||||||
18 | certified public accountants by the
Board
with an effective
| ||||||
19 | unrevoked license ;
| ||||||
20 | (e) The unauthorized practice in the performance of | ||||||
21 | accountancy activities as defined in Section 8.05 and in | ||||||
22 | contravention of this Act The use of the title "Licensed | ||||||
23 | Certified Public Accountant", or the abbreviation
| ||||||
24 | "L.C.P.A."
or any similar words or letters indicating such | ||||||
25 | person is a licensed
certified public
accountant, by any | ||||||
26 | person not licensed as a licensed certified public
|
| |||||||
| |||||||
1 | accountant by the
Department, and holding an effective | ||||||
2 | unrevoked license; provided
nothing in
this Act shall | ||||||
3 | prohibit the use of the title "Accountant" or "Bookkeeper" | ||||||
4 | by
any person ;
| ||||||
5 | (f) (Blank); The use of the title "Licensed Certified | ||||||
6 | Public Accountants",
"Public
Accountants" or the | ||||||
7 | abbreviation "P.A.'s"
or any similar words or letters | ||||||
8 | indicating that the members are public
accountants by any | ||||||
9 | partnership, limited liability company, corporation, or | ||||||
10 | other entity
unless all members thereof personally
engaged | ||||||
11 | in the practice of public accounting in this State are | ||||||
12 | licensed
as licensed certified public accountants by the
| ||||||
13 | Department
and are holders
of effective
unrevoked | ||||||
14 | licenses, and the partnership is licensed as a public
| ||||||
15 | accounting
firm by
the Department with an effective | ||||||
16 | unrevoked license;
| ||||||
17 | (g) Making false statements to the Department
| ||||||
18 | regarding
compliance with
continuing professional | ||||||
19 | education or peer review requirements;
| ||||||
20 | (h) (Blank). The use of the title "Certified Public | ||||||
21 | Accountant" or the abbreviation "C.P.A." or any similar | ||||||
22 | words or letters indicating that the members are certified | ||||||
23 | public accountants, by any partnership unless all members | ||||||
24 | thereof personally engaged in the practice of public | ||||||
25 | accounting in this State have received certificates as | ||||||
26 | certified public accountants from the Board, are licensed |
| |||||||
| |||||||
1 | as public accountants by the Department, and are holders of | ||||||
2 | an effective unrevoked license, and the partnership is | ||||||
3 | licensed as public accountants by the Department with an | ||||||
4 | effective unrevoked license. | ||||||
5 | This Section does not prohibit a firm partnership, limited | ||||||
6 | liability company, corporation, or other entity who does not | ||||||
7 | practice public accounting as set forth in Section 8 of this | ||||||
8 | Act and whose members residing in Illinois are registered with | ||||||
9 | the Department from using the title "Certified Public | ||||||
10 | Accountant" or the abbreviation "C.P.A." or "CPA" or similar | ||||||
11 | words or letters indicating that the members are certified | ||||||
12 | public accountants.
| ||||||
13 | (Source: P.A. 95-331, eff. 8-21-07.)
| ||||||
14 | (225 ILCS 450/30) (from Ch. 111, par. 5535)
| ||||||
15 | (Section scheduled to be repealed on January 1, 2014)
| ||||||
16 | Sec. 30. A violation of Sections 8.05 and 9.02 of this Act | ||||||
17 | by any person The practice of public accounting, as described | ||||||
18 | in Section 8 of
this Act, by any person in violation of this | ||||||
19 | Act is hereby declared to be
inimical to the public welfare and | ||||||
20 | to be a public nuisance. An action to
perpetually enjoin from | ||||||
21 | such unlawful practice any person who has been or
is engaged | ||||||
22 | therein may be maintained in the name of the people of the | ||||||
23 | State
of Illinois by the Attorney General of the State of | ||||||
24 | Illinois, by the
State's Attorney of any county in which the | ||||||
25 | action is brought, by the
Department or by any resident |
| |||||||
| |||||||
1 | citizen. The injunction proceeding
shall be
in addition to and | ||||||
2 | not in lieu of any penalties or other remedies provided
by this | ||||||
3 | Act. No injunction shall issue under this section against any
| ||||||
4 | person for any act exempted under Section 11 of this Act.
| ||||||
5 | If any person shall practice as a licensed certified public | ||||||
6 | accountant or
a registered certified public accountant or hold | ||||||
7 | himself or herself out
as a licensed certified public | ||||||
8 | accountant or registered certified public accountant without | ||||||
9 | being licensed or registered under the
provision
of this
Act | ||||||
10 | then any licensed certified public accountant or registered | ||||||
11 | certified public accountant, any interested party or
any person
| ||||||
12 | injured thereby may, in addition to the Department, petition | ||||||
13 | for
relief
as provided in subsection (a) of this Section.
| ||||||
14 | Whenever in the opinion of the Department any person | ||||||
15 | violates
any provision
of this Act, the Department may issue a | ||||||
16 | rule to show cause why an
order
to cease and desist should not | ||||||
17 | be entered against him. The rule shall clearly
set
forth the | ||||||
18 | grounds relied upon by the Department and shall provide
a | ||||||
19 | period
of 7 days from the date of the rule to file an answer to | ||||||
20 | the satisfaction
of the Department. Failure to answer to the | ||||||
21 | satisfaction of the
Department
shall cause an order to cease | ||||||
22 | and desist to be issued forthwith.
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23 | (Source: P.A. 92-457, eff. 7-1-04; 93-683, eff. 7-2-04.)
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24 | (225 ILCS 450/30.5)
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25 | (Section scheduled to be repealed on January 1, 2014) |
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1 | Sec. 30.5. Improper influence on the conduct of audits. | ||||||
2 | (a) It shall be unlawful for any officer or director of a | ||||||
3 | company that is not required to file periodic information, | ||||||
4 | documents, and reports pursuant to the federal Securities | ||||||
5 | Exchange Act of 1934, or any other person acting under the | ||||||
6 | direction thereof, to take any action to fraudulently | ||||||
7 | influence, coerce, manipulate, or mislead any licensed public | ||||||
8 | accountant or licensed certified public accountant engaged in | ||||||
9 | the performance of an audit of the financial statements of that | ||||||
10 | company for the purpose of rendering the financial statements | ||||||
11 | being audited materially misleading.
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12 | (b) A person who , with the intent to deceive, violates this | ||||||
13 | Section is guilty of a Class 4 felony.
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14 | (Source: P.A. 93-683, eff. 7-2-04.) | ||||||
15 | (225 ILCS 450/30.6)
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16 | (Section scheduled to be repealed on January 1, 2014) | ||||||
17 | Sec. 30.6. Misleading behavior by licensees certified | ||||||
18 | public accountants . | ||||||
19 | (a) It shall be unlawful for any licensee licensed public | ||||||
20 | accountant or licensed certified public accountant to | ||||||
21 | intentionally mislead a company that is not required to file | ||||||
22 | periodic information, documents, and reports pursuant to the | ||||||
23 | federal Securities Exchange Act of 1934 by falsifying records | ||||||
24 | it creates as part of an audit of the company.
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25 | (b) A person who knowingly violates this Section is guilty |
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1 | of a Class 4 felony.
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2 | (Source: P.A. 93-683, eff. 7-2-04.)
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3 | (225 ILCS 450/7 rep.)
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4 | (225 ILCS 450/8 rep.)
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5 | (225 ILCS 450/9 rep.)
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6 | (225 ILCS 450/9.01 rep.)
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7 | Section 10. The Illinois Public Accounting Act is amended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8 | by repealing Sections 7, 8, 9, and 9.01.
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9 | Section 99. Effective date. This Act takes effect July 1, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10 | 2012.
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