(225 ILCS 450/0.03) (from Ch. 111, par. 5500.03)
    (Section scheduled to be repealed on January 1, 2029)
    Sec. 0.03. Definitions. As used in this Act, unless the context otherwise requires:
    "Accountancy activities" means the services as set forth in Section 8.05 of this Act.
    "Address of record" means the designated address recorded by the Department in the applicant's, licensee's, or registrant's application file or license file maintained by the Department's licensure maintenance unit. It is the duty of the applicant, licensee, or registrant to inform the Department of any change of address, and those changes must be made either through the Department's website or by directly contacting the Department.
    "Certification" means certification by the Board or University or similar jurisdictions specifying an individual has successfully passed all sections and requirements of the Uniform Certified Public Accountant Examination and verification of completion of 150 credit hours. Certification by the Board or University or similar jurisdiction does not confer the ability to use the CPA title and is not equivalent to a registration or license under this Act.
    "Compilation" means providing a service to be performed in accordance with Statements on Standards for Accounting and Review Services that is presented in the form of financial statements or information that is the representation of management or owners without undertaking to express any assurance on the statements.
    "Coordinator" means the CPA Coordinator.
    "CPA" or "C.P.A." means a certified public accountant who holds a license or registration issued by the Department or an individual authorized to use the CPA title under Section 5.2 of this Act.
    "CPA firm" means a sole proprietorship, a corporation, registered limited liability partnership, limited liability company, partnership, professional service corporation, or any other form of organization issued a license in accordance with this Act or a CPA firm authorized to use the CPA firm title under Section 5.2 of this Act.
    "CPA (inactive)" means a licensed certified public accountant who elects to have the Department place the licensee's license on inactive status pursuant to Section 17.2 of this Act.
    "Email address of record" means the designated email address recorded by the Department in the applicant's application file or the licensee's license file, as maintained by the Department's licensure maintenance unit.
    "Exam certificate" means an exam certificate issued by the Board, the University, or a similar jurisdiction specifying that an individual has successfully passed all sections and requirements of the Uniform Certified Public Accountant Examination. An exam certificate issued by the Board, the University, or a similar jurisdiction does not confer the ability to use the CPA title and is not equivalent to a registration or license under this Act.
    "Financial statement" means a structured presentation of historical financial information, including, but not limited to, related notes intended to communicate an entity's economic resources and obligations at a point in time or the changes therein for a period of time in accordance with generally accepted accounting principles (GAAP) or other comprehensive basis of accounting (OCBOA).
    "Other attestation engagements" means an engagement performed in accordance with the Statements on Standards for Attestation Engagements.
    "Registered Certified Public Accountant" or "registered CPA" means any person who has been issued a registration under this Act as a Registered Certified Public Accountant.
    "Report", when used with reference to financial statements, means an opinion, report, or other form of language that states or implies assurance as to the reliability of any financial statements and that also includes or is accompanied by any statement or implication that the person or firm issuing it has special knowledge or competence in accounting or auditing. Such a statement or implication of special knowledge or competence may arise from use by the issuer of the report of names or titles indicating that the person or firm is an accountant or auditor, or from the language of the report itself. "Report" includes any form of language that disclaims an opinion when the form of language is conventionally understood to imply any positive assurance as to the reliability of the financial statements referred to or special competence on the part of the person or firm issuing such language; it includes any other form of language that is conventionally understood to imply such assurance or such special knowledge or competence.
    "Licensed Certified Public Accountant" or "licensed CPA" means any person licensed under this Act as a Licensed Certified Public Accountant.
    "Committee" means the Public Accountant Registration and Licensure Committee appointed by the Secretary.
    "Department" means the Department of Financial and Professional Regulation.
    "License", "licensee", and "licensure" refer to the authorization to practice under the provisions of this Act.
    "Peer review" means a study, appraisal, or review of one or more aspects of a CPA firm's or sole practitioner's compliance with applicable accounting, auditing, and other attestation standards adopted by generally recognized standard-setting bodies.
    "Principal place of business" means the office location designated by the licensee from which the person directs, controls, and coordinates one's professional services.
    "Review committee" means any person or persons conducting, reviewing, administering, or supervising a peer review program.
    "Secretary" means the Secretary of the Department of Financial and Professional Regulation.
    "University" means the University of Illinois.
    "Board" means the Board of Examiners established under Section 2.
    "Registration", "registrant", and "registered" refer to the authorization to hold oneself out as or use the title "Registered Certified Public Accountant" or "Certified Public Accountant", unless the context otherwise requires.
    "Peer Review Administrator" means an organization designated by the Department that meets the requirements of subsection (f) of Section 16 of this Act and other rules that the Department may adopt.
(Source: P.A. 102-222, eff. 1-1-22; 103-309, eff. 1-1-24.)