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Public Act 92-0457
SB1284 Enrolled LRB9206807LDpr
AN ACT in relation to accounting.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Regulatory Sunset Act is amended by
changing Section 4.14 and adding Section 4.24 as follows:
(5 ILCS 80/4.14) (from Ch. 127, par. 1904.14)
Sec. 4.14. Acts repealed.
(a) The following Acts are repealed December 31, 2003:
The Private Detective, Private Alarm, and Private
Security Act of 1993.
The Illinois Occupational Therapy Practice Act.
(b) The following Acts are repealed January 1, 2004:
The Illinois Certified Shorthand Reporters Act of
1984.
The Illinois Public Accounting Act.
The Veterinary Medicine and Surgery Practice Act of
1994.
(Source: P.A. 87-261; 87-481; 87-576; 87-895; 88-36; 88-363;
88-424; 88-670, eff. 12-2-94.)
(5 ILCS 80/4.24 new)
Sec. 4.24. Act repealed on January 1, 2014. The
following Act is repealed on January 1, 2014:
The Illinois Public Accounting Act.
Section 10. The Illinois Public Accounting Act is
amended by changing Sections 0.03, 1, 2, 3, 6, 7, 8, 9.01,
9.2, 11, 13, 14, 14.1, 14.2, 14.3, 16, 17, 17.1, 17.2, 19,
20.01, 20.1, 20.2, 20.3, 20.4, 20.5, 20.6, 21, 26, 27, 28,
30, 30.1, and 32 and adding Section 9.02 as follows:
(225 ILCS 450/0.03) (from Ch. 111, par. 5500.03)
Sec. 0.03. Definitions. As used in this Act, unless the
context otherwise requires:
(a) "Certified Public Accountant" means any person who
has been issued a certificate as a certified public
accountant from the Board of Examiners University of
Illinois.
(b) "Licensed Certified Public Accountant" means any
person licensed under this Act.
(c) (Blank). "Department" means the Department of
Professional Regulation.
(d) (Blank). "Director" means the Director of
Professional Regulation.
(e) (Blank). "Committee" means the Illinois Public
Accountants Registration Committee appointed by the Director.
(f) "License", "licensee" and "licensure" refers to the
authorization to practice under the provisions of this Act.
(g) "Peer review program" means a study, appraisal, or
review of one or more aspects of the professional work of a
person or firm certified or licensed under this Act,
including quality review, peer review, practice monitoring,
quality assurance, and similar programs undertaken
voluntarily or in response to membership requirements in a
professional organization, or as a prerequisite to the
providing of professional services under government
requirements, or any similar internal review or inspection
that is required by professional standards.
(h) "Review committee" means any person or persons
conducting, reviewing, administering, or supervising a peer
review program.
(i) "University" means the University of Illinois.
(j) "Board" means the Board of Examiners established
under Section 2.
(Source: P.A. 88-36.)
(225 ILCS 450/1) (from Ch. 111, par. 5501)
Sec. 1. Any person, eighteen years of age or older, who
has received from the Board University of Illinois,
hereinafter called the University, a certificate of his
qualifications as hereinafter provided, shall be styled and
known as a "Certified Public Accountant," and no other person
shall assume such title or use the abbreviation "C. P.A." or
any words or letters to indicate that the person using the
same is a certified public accountant.
(Source: P.A. 83-291.)
(225 ILCS 450/2) (from Ch. 111, par. 5502)
Sec. 2. Examinations. The Governor University shall
appoint a Board of Examiners that shall determine the
qualifications of persons applying for certificates and shall
make rules for and conduct examinations for determining the
qualifications.
The Board shall consist of not less than 9 nor more than 11 9
examiners, as determined by Board rule, including 2 public
members. The remainder at least 7 of whom shall be certified
public accountants in this State who have been residents of
this State for at least 5 years immediately preceding their
appointment, except that one. One shall be either a
certified public an accountant of the grade herein described
or an attorney licensed and residing in this State and one
shall be a certified public accountant who is an active or
retired educator residing in this State. The term of office
of each examiner shall be 3 years, except that upon the
enactment of this amendatory Act of the 92nd General Assembly
1993, those members currently serving on the Board shall
continue to serve the duration of their terms, one additional
examiner shall be appointed for a term of one year, one
additional examiner for a term of 2 years, and any 2
additional examiners for terms a term of 3 years. As the
term of each examiner expires, the appointment shall be
filled for a term of 3 years from the date of expiration.
Any Board member who has served as a member for 6 consecutive
years shall not be eligible for reappointment until 2 years
after the end of the term in which the sixth consecutive year
of service occurred, except that members of the Board serving
on the effective date of this Section shall be eligible for
appointment to one additional 3-year term. Where the
expiration of any member's term shall result in less than 11
members then serving on the Board, the member shall continue
to serve until his or her successor is appointed and has
qualified. The Governor may terminate the term of any member
of the Board at any time for cause.
The time and place of holding the examinations shall be
determined by the Board and shall be duly advertised by the
Board.
The examination shall test the applicant's knowledge of
accounting, auditing, and other related subjects, if any, as
the Board may deem advisable. A candidate must be examined
in all subjects except that a candidate who has passed in 2
or more subjects and who attained a minimum grade in each
subject failed as may be established by Board regulations
shall have the right to be re-examined in the remaining
subjects at one or more of the next 6 succeeding
examinations.
The Board may in certain cases waive or defer any of the
requirements of this Section regarding the circumstances in
which the various Sections of the examination must be passed
upon a showing that, by reasons of circumstances beyond the
applicant's control, the applicant was unable to meet the
requirement.
Applicants may also be required to pass an examination on
the rules of professional conduct, as determined by Board
rule to be appropriate.
The examinations shall be given at least twice a year.
Any application, document or other information filed by
or concerning an applicant and any examination grades of an
applicant shall be deemed confidential and shall not be
disclosed to anyone without the prior written permission of
the applicant, except that it is hereby deemed in the public
interest that the names and addresses only of all applicants
shall be a public record and be released as public
information. Nothing herein shall prevent the Board from
making public announcement of the names of persons receiving
certificates under this Act.
The Board shall adopt all necessary and reasonable rules
and regulations for the effective administration of the
Sections of this Act for which it is charged with
administering. Without limiting the foregoing, the Board
shall adopt and prescribe rules and regulations for a fair
and wholly and impartial method of determining the
qualifications of applicants for examination and for a fair
and wholly and impartial method of examination of persons
under Section 2 and may establish rules for subjects
conditioned and for the transfer of credits from other
jurisdictions with respect to subjects passed.
(Source: P.A. 88-36.)
(225 ILCS 450/3) (from Ch. 111, par. 5504)
Sec. 3. Qualifications of applicants. To be admitted to
take the examination given before January 1, 2001, for the
purpose of determining the qualifications of applicants for
certificates as certified public accountants under this Act,
the applicants shall be required to present proof of the
successful completion of 120 college or university semester
hours of study or their equivalent from a school or schools
acceptable to the Board. Of the 120 semester hours, at least
27 semester hours shall be in the study of accounting,
auditing and business law, provided that of the 27 hours not
more than 6 shall be in business law. To be admitted to take
the examination after the year 2000, for the purpose of
determining the qualifications of applicants for certificates
as certified public accountants under this Act, the
applicants shall be required to present proof of the
successful completion of 150 college or university semester
hours of study or their equivalent, to include a
baccalaureate or higher degree conferred by a college or
university acceptable to the Board of Examiners, the total
educational program to include an accounting concentration or
equivalent as determined by Board rules to be appropriate. In
adopting those rules, the Board shall consider, among other
things, any impediments to the interstate practice of public
accounting that may result from differences in the
requirements in other states.
Candidates who have taken the examination at least once
before January 1, 2001, may take the examination under the
qualifications in effect when they first took the
examination.
(Source: P.A. 87-726; 88-36.)
(225 ILCS 450/6) (from Ch. 111, par. 5507)
Sec. 6. Fees; pay of examiners; expenses. The Board shall
charge a fee in an amount at least sufficient to defray the
costs and expenses incident to the examination and issuance
of a certificate provided for in Section 3 and for the
issuance of a certificate provided for in Section 5. This fee
shall be payable by the applicant at the time of filing an
application.
The Board appointed by the Governor University in
accordance with the provisions of Section 2 shall receive
reasonable compensation, to be set determined by Board rule
the University, for the time actually expended in pursuance
of the duties imposed upon them by this Act, and they shall
be further entitled to their necessary traveling expenses.
All expenses provided for by this Act shall be paid from the
fees received under this Act, and no expense incurred under
this Act shall be charged against other funds of the
University.
From the fees collected, the Board shall pay all the
expenses incident to the examinations, the expenses of
issuing certificates, the traveling expenses of the
examiners, and their compensation while performing their
duties, and other necessary expenses in the administration of
this Act.
(Source: P.A. 88-36.)
(225 ILCS 450/7) (from Ch. 111, par. 5508)
Sec. 7. Licensure. A holder of a certificate as
certified public accountant issued by the Board shall not be
entitled to practice public accounting, as defined in Section
8, in this State until the person has been licensed as a
licensed certified public accountant by the Board Department
of Professional Regulation of this State, and has received a
registration card from the Department.
The Board Department may refuse to issue or may suspend
the license of any person who fails to file a return, or to
pay the tax, penalty or interest shown in a filed return, or
to pay any final assessment of tax, penalty or interest, as
required by any tax Act administered by the Illinois
Department of Revenue, until such time as the requirements of
any such tax Act are satisfied.
(Source: P.A. 88-36.)
(225 ILCS 450/8) (from Ch. 111, par. 5509)
Sec. 8. Practicing as licensed certified public
accountant. Persons, either individually, as members of a
partnership or limited liability company, or as officers of a
corporation, who sign, affix or associate their names or any
trade or assumed names used by them in a profession or
business to any report expressing or disclaiming an opinion
on a financial statement based on an audit or examination of
that statement, or expressing assurance on a financial
statement, shall be deemed to be in practice as licensed
certified public accountants within the meaning and intent of
this Act.
(Source: P.A. 87-435; 88-36.)
(225 ILCS 450/9.01)
Sec. 9.01. Unlicensed practice; violation; civil
penalty.
(a) Any person who practices, offers to practice,
attempts to practice, or holds oneself out to practice as a
licensed certified public accountant without being licensed
under this Act shall, in addition to any other penalty
provided by law, pay a civil penalty to the Board Department
in an amount not to exceed $5,000 for each offense as
determined by the Board Department. The civil penalty shall
be assessed by the Board Department after a hearing is held
in accordance with the provisions set forth in this Act
regarding the provision of a hearing for the discipline of a
licensee.
(b) The Board Department has the authority and power to
investigate any and all unlicensed activity.
(c) The civil penalty shall be paid within 60 days after
the effective date of the order imposing the civil penalty.
The order shall constitute a judgment and may be filed and
execution had thereon in the same manner as any judgment from
any court of record.
(Source: P.A. 89-474, eff. 6-18-96.)
(225 ILCS 450/9.02 new)
Sec. 9.02. Unauthorized use of title; violation; civil
penalty.
(a) Any person who shall assume the title "certified
public accountant" or use the abbreviation "CPA" or any words
or letters to indicate that the person using the same is a
certified public accountant without having been issued a
certificate under the provisions of this Act shall, in
addition to any other penalty provided by law, pay a
civil penalty to the Board in an amount not to exceed $5,000
for each offense as determined by the Board. The civil
penalty shall be assessed by the Board after a hearing is
held in accordance with the provisions set forth in this
Act regarding the provision of a hearing for the
discipline of a licensee.
(b) The Board has the authority and power to
investigate any and all alleged improper use of the
certified public accountant title or CPA designation.
(c) The civil penalty shall be paid within 60
days after the effective date of the order imposing the civil
penalty. The order shall constitute a judgment and may be
filed and execution had thereon in the same manner as any
judgment from any court of record.
(225 ILCS 450/9.2) (from Ch. 111, par. 5510.2)
Sec. 9.2. Powers and duties of the Board.
(a) The Board Department shall exercise the powers and
duties prescribed by "The Civil Administrative Code of
Illinois" for the administration of licensing acts and shall
exercise such other powers and duties invested by this Act.
(b) The Board Director may promulgate rules consistent
with the provisions of this Act for the administration and
enforcement thereof, and for the payment of fees connected
therewith and may prescribe forms which shall be issued in
connection therewith. The rules shall include standards and
criteria for licensure and professional conduct and
discipline. The Department shall consult with the Committee
in promulgating rules. Notice of proposed rulemaking shall
be transmitted to the Committee and the Department shall
review the Committee's response and any recommendations made
therein. The Department shall notify the Committee in
writing with explanation of deviations from the Committee's
recommendations and responses.
(c) The Department may solicit the advice and expert
knowledge of the Committee on any matter relating to the
administration and enforcement of this Act.
(d) The Department shall issue quarterly to the
Committee a report of the status of all complaints related to
the profession received by the Department.
(Source: P.A. 83-291.)
(225 ILCS 450/11) (from Ch. 111, par. 5512)
Sec. 11. Exemption from Act. Nothing in this Act shall
prohibit any person who may be engaged by one or more
persons, partnerships or corporations, from keeping books, or
from making trial balances or statements, or, as an employee,
from making audits or preparing reports, provided that the
person does not indicate or in any manner imply that the
trial balances, statements, or reports have been prepared or
examined by a certified public accountant or a licensed
certified public accountant or that they represent the
independent opinion of a certified public accountant or a
licensed certified public accountant. Nothing in this Act
shall prohibit any person from preparing tax and information
returns or from acting as representative or agent at tax
inquiries, examinations or proceedings, or from preparing and
installing accounting systems, or from reviewing accounts and
accounting methods for the purpose of determining the
efficiency of accounting methods or appliances, or from
studying matters of organization, provided that the person
does not indicate or in any manner imply that the reports
have been prepared by, or that the representation or
accounting work has been performed by a certified public
accountant or a licensed certified public accountant.
Unlicensed accountants are not prohibited from performing any
services that they may have performed prior to this
Amendatory Act of 1983.
(Source: P.A. 88-36.)
(225 ILCS 450/13) (from Ch. 111, par. 5514)
Sec. 13. Application for licensure. A person,
partnership, limited liability company, or corporation
desiring to practice public accounting in this State shall
make application to the Board Department for licensure as a
licensed certified public accountant and shall pay the fee
required by Section 17.
Applicants have 3 years from the date of application to
complete the application process. If the process has not
been completed in 3 years, the application shall be denied,
the fee forfeited and the applicant must reapply and meet the
requirements in effect at the time of reapplication.
(Source: P.A. 88-36.)
(225 ILCS 450/14) (from Ch. 111, par. 5515)
Sec. 14. Qualifications. The Board Department shall
license as licensed certified public accountants the
following:
(a) All persons who have received or who hereafter
receive certificates as certified public accountants from the
Board, who have had at least one year of full-time
experience, or its equivalent, providing any type of service
or advice involving the use of accounting, attest, management
advisory, financial advisory, tax, or consulting skills,
which may be gained through employment in government,
industry, academia, or public practice.
If the applicant's certificate was issued more than 4
years prior to the application for an internal license under
this Section, the applicant shall submit any evidence the
Board Department may require showing the applicant has
completed not less than 90 hours of continuing professional
education acceptable to the Board Department within the 3
years immediately preceding the date of application.
The Committee shall be the sole and final judge of the
qualification of experience under this section.
(b) All partnerships, limited liability companies, or
corporations, or other entities engaged in the practice of
public accounting in this State and meeting the following
requirements:
(1) (Blank).
(2) A majority of the ownership of the firm, in
terms of financial interests and voting rights of all
partners, officers, shareholders, members, or managers,
belongs to persons licensed in some state, and the
partners, officers, shareholders, members, or managers
whose principal place of business is in this State and
who practice public accounting in this State, as defined
in Section 8 of this Act, hold a valid license issued by
this State.
(3) It shall be lawful for a nonprofit cooperative
association engaged in rendering an auditing and
accounting service to its members only, to continue to
render that service provided that the rendering of
auditing and accounting service by the cooperative
association shall at all times be under the control and
supervision of licensed certified public accountants.
(4) The Board Department may adopt rules and
regulations as necessary to provide for the practice of
public accounting by business entities that may be
otherwise authorized by law to conduct business in
Illinois.
The Director shall appoint a Public Accountant
Registration Committee as follows: 7 persons who shall be
appointed by and shall serve in an advisory capacity to the
Director. Six members must be licensed public accountants,
in good standing, and must be actively engaged in the
practice of public accounting in this State, and one member
of the public, who is not licensed under this Act, or a
similar Act of another jurisdiction, and, who has no
connection with the accounting or public accounting
profession. Members shall serve 4 year terms and until their
successors are appointed and qualified. No member shall be
reappointed to the Committee for more than 2 terms.
Appointments to fill vacancies shall be made in the same
manner as original appointments, for the unexpired portion of
the vacated term. The membership of the Committee should
reasonably reflect representation from the geographic areas
in this State.
The members of the Committee appointed by the Director
shall receive reasonable compensation, to be determined by
the Department, for the necessary, legitimate, and
authorized expenses approved by the Department. All expenses
shall be paid from the Registered Certified Public
Accountants' Administration and Disciplinary Fund.
The Director may terminate the appointment of any member
for cause.
The Director shall consider the advice and
recommendations of the Committee on questions involving
standards of professional conduct, discipline and
qualifications of candidates and licensees under this Act.
(Source: P.A. 91-508, eff. 8-13-99; 91-827, eff. 6-13-00.)
(225 ILCS 450/14.1)
Sec. 14.1. Foreign accountants. The Board Department
shall issue a license to a holder of a foreign designation,
granted in a foreign country entitling the holder thereof to
engage in the practice of public accounting, provided:
(a) The applicant is the holder of a certificate from
the Board issued under Section 2, 5, or 5.1 of this Act; and
(b) The foreign authority that granted the designation
makes similar provision to allow a person who holds a valid
license issued by this State to obtain a foreign authority's
comparable designation; and
(c) The foreign designation (i) was duly issued by a
foreign authority that regulates the practice of public
accounting and the foreign designation has not expired or
been revoked or suspended; (ii) entitles the holder to issue
reports upon financial statements; and (iii) was issued upon
the basis of educational, examination, and experience
requirements established by the foreign authority or by law;
and
(d) The applicant (i) received the designation based on
standards substantially equivalent to those in effect in this
State at the time the foreign designation was granted; and
(ii) completed an experience requirement, substantially
equivalent to the requirement set out in Section 14, in the
jurisdiction that granted the foreign designation or has
completed 5 years of experience in the practice of public
accounting in this State, or meets equivalent requirements
prescribed by the Board Department by rule, within the 10
years immediately preceding the application.
(Source: P.A. 88-36.)
(225 ILCS 450/14.2)
Sec. 14.2. Licensure by endorsement.
(a) The Board Department shall issue a license as a
licensed certified public accountant to any applicant who
holds a certificate as a certified public accountant issued
by the Board and who holds a valid unrevoked license or
permit to practice as a licensed certified public accountant
issued under the laws of any other state or territory of the
United States or the District of Columbia, provided:
(1) the individual applicant is determined by the
Board Department to possess personal qualifications
substantially equivalent to this State's current
licensing requirements;
(2) at the time the applicant received his or her
current valid and unrevoked license or permit, the
applicant possessed qualifications substantially
equivalent to the qualifications for licensure then in
effect in this State; or
(3) the applicant has, after passing the
examination upon which his or her license or other permit
to practice was based, not less than 4 years of
experience in the practice of public accounting within
the 10 years immediately before the application.
(b) In determining the substantial equivalency of any
state's requirements to Illinois' requirements, the Board
Department may rely on the determinations of the National
Qualification Appraisal Service of the National Association
of State Boards of Accountancy or such other qualification
appraisal service as it deems appropriate.
(Source: P.A. 91-508, eff. 8-13-99; 91-779, eff. 6-9-00.)
(225 ILCS 450/14.3)
Sec. 14.3. Additional requirements for firms. In
addition to the ownership requirements set forth in
subsection (b) of Section 14, all firms licensed under this
Act shall meet the following requirements:
(a) All owners of the firm who are not licensed shall be
active participants in the firm or its affiliated entities.
(b) An individual who supervises services for which a
license is required under Section 8 of this Act or who signs
or authorizes another to sign any report for which a license
is required under Section 8 of this Act shall hold a valid,
unrevoked license from this State or another state and shall
comply with such additional experience requirements as may be
required by rule of the Board Department.
(c) The firm shall require that all owners of the firm,
whether or not certified or licensed under this Act, comply
with rules promulgated under this Act.
(d) The firm shall designate to the Board Department in
writing an individual licensed under this Act who shall be
responsible for the proper registration of the firm.
(Source: P.A. 91-508, eff. 8-13-99.)
(225 ILCS 450/16) (from Ch. 111, par. 5517)
Sec. 16. Expiration and renewal of licenses; renewal of
registration; continuing education.
(a) The expiration date and renewal period for each
license issued under this Act shall be set by rule.
(b) Every application for renewal of a license by any
person who has been licensed under this Act for 3 years or
more shall be accompanied or supported by any evidence the
Board Department shall prescribe, in satisfaction of
completing, each 3 years, not less than 120 hours of
qualifying continuing professional education programs.
Applications for renewal by any person who has been licensed
less than 3 years shall be accompanied or supported by
evidence of completion of 20 hours of qualifying continuing
professional education programs for each full 6 months since
the date of licensure or last renewal. Qualifying continuing
education programs include those given by continuing
education sponsors registered with the Board, those given by
the American Institute of CPAs, the Illinois CPA Foundation,
and programs given by sponsors approved by national
accrediting organizations approved by the Board. in subjects
given by continuing education sponsors registered by the
Department upon recommendation of the Committee. All
continuing education sponsors applying to the Board
Department for registration shall be required to submit an
initial nonrefundable application fee set by Board Department
rule. Each registered continuing education sponsor shall be
required to pay an annual renewal fee set by Board Department
rule. Publicly supported colleges, universities, and
governmental agencies located in Illinois are exempt from
payment of any fees required for continuing education sponsor
registration. Failure by a continuing education sponsor to
be licensed or pay the fees prescribed in this Act, or to
comply with the rules and regulations established by the
Board Department under this Section regarding requirements
for continuing education courses or sponsors, shall
constitute grounds for revocation or denial of renewal of the
sponsor's registration. All other courses or programs may
qualify upon presentation by the licensee of evidence
satisfactory to the Board that the course or program meets
all Board rules for qualifying education programs.
Notwithstanding the preceding paragraph, the Department
may accept courses and sponsors approved by other states, by
the American Institute of Certified Public Accountants, by
other state CPA societies, or by national accrediting
organizations such as the National Association of State
Boards of Accountancy; provided, however, that the sponsor
must register with the Department and pay the required fee if
its courses are presented in the State of Illinois.
Failure by an applicant for renewal of a license as a
public accountant to furnish the evidence shall constitute
grounds for disciplinary action, unless the Board Department
in its discretion shall determine the failure to have been
due to reasonable cause. The Board Department, in its
discretion, may renew a license despite failure to furnish
evidence of satisfaction of requirements of continuing
education upon condition that the applicant follow a
particular program or schedule of continuing education. In
issuing rules, regulations, and individual orders in respect
of requirements of continuing education, the Board Department
in its discretion may, among other things, use and rely upon
guidelines and pronouncements of recognized educational and
professional associations; may prescribe rules for content,
duration, and organization of courses; shall take into
account the accessibility to applicants of continuing
education as it may require, and any impediments to
interstate practice of public accounting that may result from
differences in requirements in other states; and may provide
for relaxation or suspension of requirements in regard to
applicants who certify that they do not intend to engage in
the practice of public accounting, and for instances of
individual hardship.
The Board Department shall establish by rule a means for
the verification of completion of the continuing education
required by this Section. This verification may be
accomplished through audits of records maintained by
registrants; by requiring the filing of continuing education
certificates with the Board Department; or by other means
established by the Board Department.
The Board Department may establish, by rule, guidelines
for acceptance of continuing education on behalf of licensed
certified public accountants taking continuing education
courses in other jurisdictions.
(Source: P.A. 87-435; 87-546; 88-36.)
(225 ILCS 450/17) (from Ch. 111, par. 5518)
Sec. 17. Fees; returned checks; fines. Each person,
partnership, limited liability company, and corporation, to
which a license is issued, shall pay a fee to be established
by the Board Department which allows the Board Department to
pay all costs and expenses incident to the administration of
this Act. Interim licenses shall be at full rates.
The Board Department, by rule, shall establish fees to be
paid for certification of records, and copies of this Act and
the rules issued for administration of this Act.
Any person who delivers a check or other payment to the
Board Department that is returned to the Board Department
unpaid by the financial institution upon which it is drawn
shall pay to the Board Department, in addition to the amount
already owed to the Board Department, a fine in an amount to
be established by Board rule of $50. If the check or other
payment was for a renewal or issuance fee and that person
practices without paying the renewal fee or issuance fee and
the fine due, an additional fine in an amount to be
established by Board rule of $100 shall be imposed. The fines
imposed by this Section are in addition to any other
discipline provided under this Act for unlicensed practice or
practice on a nonrenewed license. The Board Department shall
notify the person that payment of fees and fines shall be
paid to the Board Department by certified check or money
order within 30 calendar days of the notification. If, after
the expiration of 30 days from the date of the notification,
the person has failed to submit the necessary remittance, the
Board Department shall automatically terminate the license or
certificate or deny the application, without hearing. If,
after termination or denial, the person seeks a license or
certificate, he or she shall apply to the Board Department
for restoration or issuance of the license or certificate and
pay all fees and fines due to the Board Department. The Board
Department may establish a fee for the processing of an
application for restoration of a license or certificate to
pay all expenses of processing this application. The Board
Director may waive the fines due under this Section in
individual cases where the Board Director finds that the
fines would be unreasonable or unnecessarily burdensome.
(Source: P.A. 87-1031; 88-36.)
(225 ILCS 450/17.1) (from Ch. 111, par. 5518.1)
Sec. 17.1. Any licensed certified public accountant who
has permitted his license to expire or who has had his
license on inactive status may have his license restored by
making application to the Board Department and filing proof
acceptable to the Board Department of his fitness to have his
license restored, including sworn evidence certifying to
active practice in another jurisdiction satisfactory to the
Board Department and by paying the required restoration fee
and by submitting proof of the required continuing education.
If the licensed certified public accountant has not
maintained an active practice in another jurisdiction
satisfactory to the Board Department, the Board Department
shall determine, by an evaluation program established by
rule, fitness to resume active status and may require the
applicant to complete a period of supervised auditing
experience.
However, any licensed certified public accountant whose
license expired while he was (1) in Federal Service on active
duty with the Armed Forces of the United States, or the State
Militia called into service or training, or (2) in training
or education under the supervision of the United States
preliminary to induction into the military service, may have
his license renewed reinstated or restored without paying any
lapsed renewal and restoration fees if within 2 years after
honorable termination of such service, training or education
except under conditions other than honorable, he furnished
the Board Department with satisfactory evidence to the effect
that he has been so engaged and that his service, training or
education has been so terminated.
(Source: P.A. 84-1299.)
(225 ILCS 450/17.2) (from Ch. 111, par. 5518.2)
Sec. 17.2. Any licensed certified public accountant who
notifies the Board Department in writing on forms prescribed
by the Board Department, may elect to place his license on an
inactive status and shall, subject to rules of the Board
Department, be excused from payment of renewal fees until he
notifies the Board Department in writing of his desire to
resume active status.
Any licensed certified public accountant requesting
restoration from inactive status shall be required to pay the
current renewal fee, shall be required to submit proof of the
required continuing education, and shall be required to
restore his license, as provided in this Act.
Any licensed certified public accountant whose license is
in an inactive status shall not practice public accounting in
this State of Illinois.
The Board Department may, in its discretion, license as a
licensed certified public accountant, on payment of the
required fee, an applicant who is a licensed certified public
accountant licensed under the laws of another jurisdiction if
the requirements for licensure of licensed certified public
accountants in the jurisdiction in which the applicant was
licensed were, at the date of his licensure, substantially
equivalent to the requirements in force in this State on that
date.
Applicants have 3 years from the date of application to
complete the application process. If the process has not
been completed in 3 years, the application shall be denied,
the fee forfeited and the applicant must reapply and meet the
requirements in effect at the time of reapplication.
(Source: P.A. 86-615.)
(225 ILCS 450/19) (from Ch. 111, par. 5520)
Sec. 19. Hearings. The Board, or a committee thereof,
shall Committee established under the provisions of Section
14 shall, upon designation by the Director, hear charges
which, if proved, would constitute grounds for disciplinary
action; shall hear applications for restoration of a license
and the issuance of registration cards as licensed certified
public accountants of any person, partnership, limited
liability company, or corporation whose license has been
suspended or revoked; and shall report its findings and
recommendations in connection therewith to the Board
Director, all as provided in Section 20.01.
The Board Department, upon recommendation of the
Committee shall also have power to promulgate and amend rules
of professional conduct that shall apply to persons certified
or every person licensed under this Act.
(Source: P.A. 88-36.)
(225 ILCS 450/20.01) (from Ch. 111, par. 5521.01)
Sec. 20.01. Grounds for discipline; license.
(a) The Board Department may refuse to issue or renew,
or may revoke, suspend, or reprimand any license or licensee,
place a licensee on probation for a period of time subject to
any conditions the Board Committee may specify including
requiring the licensee to attend continuing education courses
or to work under the supervision of another licensee, impose
a fine not to exceed $5,000 for each violation, restrict the
authorized scope of practice, or require a licensee to
undergo a peer review program, for any one or more of the
following:
(1) Violation of any provision of this Act.
(2) Attempting to procure a license to practice
public accounting by bribery or fraudulent
misrepresentations.
(3) Having a license to practice public accounting
revoked, suspended, or otherwise acted against, including
the denial of licensure, by the licensing authority of
another state, the District of Columbia, or any United
States territory territory, or country. No disciplinary
action shall be taken in Illinois if the action taken in
another jurisdiction was based upon failure to meet the
continuing professional education requirements of that
jurisdiction and the applicable Illinois continuing
professional education requirements are met.
(4) Being convicted or found guilty, regardless of
adjudication, of a crime in any jurisdiction which
directly relates to the practice of public accounting or
the ability to practice public accounting.
(5) Making or filing a report or record which the
registrant knows to be false, willfully failing to file a
report or record required by state or federal law,
willfully impeding or obstructing the filing, or inducing
another person to impede or obstruct the filing. The
reports or records shall include only those that are
signed in the capacity of a licensed certified public
accountant.
(6) Conviction in this or another State or the
District of Columbia, or any United States Territory, of
any crime that is punishable by one year or more in
prison or conviction of a crime in a federal court that
is punishable by one year or more in prison.
(7) Proof that the licensee is guilty of fraud or
deceit, or of gross negligence, incompetency, or
misconduct, in the practice of public accounting.
(8) Violation of any rule adopted under this Act.
(9) Practicing on a revoked, suspended, or inactive
license.
(10) Suspension or revocation of the right to
practice before any State.
(11) Conviction of any crime under the laws of the
United States or any state or territory of the United
States that is a felony or misdemeanor and has dishonesty
as essential element, or of any crime that is directly
related to the practice of the profession.
(12) Making any misrepresentation for the purpose
of obtaining a license, or material misstatement in
furnishing information to the Board Department.
(13) Aiding or assisting another person in
violating any provision of this Act or rules promulgated
hereunder.
(14) Engaging in dishonorable, unethical, or
unprofessional conduct of a character likely to deceive,
defraud, or harm the public and violating the rules of
professional conduct adopted by the Board Department.
(15) Habitual or excessive use or addiction to
alcohol, narcotics, stimulants, or any other chemical
agent or drug that results in the inability to practice
with reasonable skill, judgment, or safety.
(16) Directly or indirectly giving to or receiving
from any person, firm, corporation, partnership, or
association any fee, commission, rebate, or other form of
compensation for any professional service not actually
rendered.
(17) Physical or mental disability, including
deterioration through the aging process or loss of
abilities and skills that results in the inability to
practice the profession with reasonable judgment, skill
or safety.
(18) Solicitation of professional services by using
false or misleading advertising.
(19) Failure to file a return, or pay the tax,
penalty or interest shown in a filed return, or to pay
any final assessment of tax, penalty or interest, as
required by any tax Act administered by the Illinois
Department of Revenue or any successor agency or the
Internal Revenue Service or any successor agency.
(20) Practicing or attempting to practice under a
name other than the full name as shown on the license or
any other legally authorized name.
(21) A finding by the Board Department that a
licensee has not complied with a provision of any lawful
order issued by the Board Department.
(22) Making a false statement to the Board
Department regarding compliance with continuing
professional education requirements.
(23) Failing to make a substantive response to a
request for information by the Board Department within 30
days of the request.
(b) (Blank).
(c) In rendering an order, the Board Director shall take
into consideration the facts and circumstances involving the
type of acts or omissions in subsection (a) including, but
not limited to:
(1) the extent to which public confidence in the
public accounting profession was, might have been, or may
be injured;
(2) the degree of trust and dependence among the
involved parties;
(3) the character and degree of financial or
economic harm which did or might have resulted; and
(4) the intent or mental state of the person
charged at the time of the acts or omissions.
(d) The Board Department shall reissue the license upon
a showing certification by the Committee that the disciplined
licensee has complied with all of the terms and conditions
set forth in the final order.
(e) The Board Department shall deny any application for
a license or renewal, without hearing, to any person who has
defaulted on an educational loan guaranteed by the Illinois
Student Assistance Commission; however, the Board Department
may issue a license or renewal if the person in default has
established a satisfactory repayment record as determined by
the Illinois Student Assistance Commission.
(f) The determination by a court that a licensee is
subject to involuntary admission or judicial admission as
provided in the Mental Health and Developmental Disabilities
Code will result in the automatic suspension of his or her
license. The suspension will end upon a finding by a court
that the licensee is no longer subject to involuntary
admission or judicial admission and , the issuance of an
order so finding and discharging the patient, and the
recommendation of the Committee to the Director that the
licensee be allowed to resume professional practice.
(Source: P.A. 90-655, eff. 7-30-98.)
(225 ILCS 450/20.1) (from Ch. 111, par. 5522)
Sec. 20.1. Investigations; notice; hearing. The Board
Department may, upon its own motion, and shall, upon the
verified complaint in writing of any person setting forth
facts which, if proved, would constitute grounds for
disciplinary action as set forth in Section 20.01,
investigate the actions of any person or entity. The Board
Department may refer complaints and investigations to a
disciplinary body of the accounting profession for technical
assistance. The results of an investigation and
recommendations of the disciplinary body may be considered by
the Board Department, but shall not be considered
determinative and the Board Department shall not in any way
be obligated to take any action or be bound by the results of
the accounting profession's disciplinary proceedings. The
Board, Department before taking disciplinary action, shall
afford the concerned party or parties an opportunity to
request a hearing and if so requested shall set a time and
place for a hearing of the complaint. The Board Department
shall notify the applicant or the licensed person or entity
of any charges made and the date and place of the hearing of
those charges by mailing notice thereof to that person or
entity by registered or certified mail to the place last
specified by the accused person or entity in the last
notification to the Board Department, at least 30 days prior
to the date set for the hearing or by serving a written
notice by delivery of the notice to the accused person or
entity at least 15 days prior to the date set for the
hearing, and shall direct the applicant or licensee to file a
written answer to the Board under oath within 20 days after
the service of the notice and inform the applicant or
licensee that failure to file an answer will result in
default being taken against the applicant or licensee and
that the license or certificate may be suspended, revoked,
placed on probationary status, or other disciplinary action
may be taken, including limiting the scope, nature or extent
of practice, as the Board Director may deem proper. In case
the person fails to file an answer after receiving notice,
his or her license or certificate may, in the discretion of
the Board Department, be suspended, revoked, or placed on
probationary status, or the Board Department may take
whatever disciplinary action deemed proper, including
limiting the scope, nature, or extent of the person's
practice or the imposition of a fine, without a hearing, if
the act or acts charged constitute sufficient grounds for
such action under this Act. The Board Department shall afford
the accused person or entity an opportunity to be heard in
person or by counsel at the hearing. Following At the
conclusion of the hearing the Board Committee shall issue
present to the Director a written order setting forth report
of its finding of facts, conclusions of law, and penalties to
be imposed recommendations. The order report shall contain a
finding whether or not the accused person violated this Act
or failed to comply with the conditions required in this Act.
The Committee shall specify the nature of the violation or
failure to comply, and make its recommendations to the
Director.
The report of findings of fact, conclusions of law and
recommendations of the Committee shall be the basis for the
Department's disciplinary action. If the Director disagrees
in any regard with the report, he may issue an order in
contravention of the report. The Director shall provide a
written explanation to the Committee of any deviations from
their report, and shall specify with particularity the
reasons of that action in the final order. The finding is not
admissible in evidence against the person in a criminal
prosecution brought for the violation of this Act, but the
hearing and findings are not a bar to a criminal prosecution
brought for the violation of this Act.
(Source: P.A. 87-1031; 88-36.)
(225 ILCS 450/20.2) (from Ch. 111, par. 5523)
Sec. 20.2. The Board Department may either directly or
through its Committee subpoena and bring before it at any
hearing any person in this State and take testimony through
the Committee either orally or by deposition, or both, with
the same fees and mileage and in the same manner as
prescribed by law in judicial proceedings in civil cases in
circuit courts of this State.
The Chairman of the Board Director, or any member of the
Board Committee designated by the Chairman, or any hearing
officer appointed pursuant to Section 20.6, Director may
administer oaths to witnesses at any hearing which the Board
Department is authorized by law to conduct, and any other
oaths required or authorized in any Act administered by the
Board Department.
(Source: P.A. 83-338.)
(225 ILCS 450/20.3) (from Ch. 111, par. 5524)
Sec. 20.3. Any circuit court in the State of Illinois,
upon the application of the accused person, partnership or
corporation, of the complainant or of the Board Department,
may, by order duly entered, require the attendance of
witnesses and the production of relevant books and papers
before the Board Department at any hearing relative to a
disciplinary action and the court may compel obedience to the
order by proceedings for contempt.
(Source: P.A.83-291; 83-334.)
(225 ILCS 450/20.4) (from Ch. 111, par. 5525)
Sec. 20.4. The Board Department, at its expense, shall
provide a stenographer to take down the testimony and
preserve a record of all proceedings at disciplinary
hearings. The Board Department shall furnish a transcript of
that record to any person interested in that hearing upon
payment of the reasonable cost established by the Board
Department.
(Source: P.A. 83-291.)
(225 ILCS 450/20.5) (from Ch. 111, par. 5526)
Sec. 20.5. Rehearing. In any disciplinary proceeding, a
copy of the Board's order Committee's report shall be served
upon the respondent by the Department, either personally or
as provided in this Act for the service of the notice of
hearing. Within 20 days after such service, the respondent
may present to the Board Department a motion in writing for a
rehearing, which motion shall specify the particular grounds
therefor. If no motion for rehearing is filed, then upon the
expiration of the time specified for filing such a motion, or
if a motion or rehearing is denied, then upon such denial the
determination of the Board shall be final Director may enter
an order in accordance with recommendations of the Committee
except as provided in Section 20.6 of this Act. If the
respondent shall order from the reporting service, and pay
for a transcript of the record within the time for filing a
motion for rehearing, the 20 day period within which such a
motion may be filed shall commence upon the delivery of the
transcript to the respondent.
Whenever the Director is satisfied that substantial
justice has not been done in the disciplinary proceeding, the
Director may order a rehearing by the Committee or designated
hearing officer.
Upon the suspension or revocation of a certificate or
license the licensee shall be required to surrender to the
Board Department the certificate or license issued by the
Board Department, and upon failure or refusal so to do, the
Board Department may seize it.
The Board Department may exchange information relating to
proceedings resulting in disciplinary action against
licensees with the regulatory licensing bodies of other
states, or with other public authorities or private
organizations having regulatory interest in such matter.
(Source: P.A. 88-36.)
(225 ILCS 450/20.6) (from Ch. 111, par. 5526.6)
Sec. 20.6. Notwithstanding the provisions of Section
20.2 of this Act, the Board Director shall have the authority
to appoint any attorney duly licensed to practice law in the
State of Illinois to serve as the hearing officer in any
disciplinary action. The Director shall notify the Committee
of such appointment.
The hearing officer shall have full authority to conduct
the hearing. The hearing officer shall report his findings
of fact, conclusions of law and recommendations to the Board
Committee and the Director. The Board Committee shall have
60 days from receipt of the report to review the report of
the hearing officer and present their findings of fact,
conclusions of law and recommendations to the Director. If
the Committee fails to present its report within the 60 day
period, the Director shall issue an order based on the report
of the hearing officer unless it. If the Director disagrees
in any regard with the report of the Committee or hearing
officer, in which case it he may issue an order in
contravention thereof, which order may require a new hearing
as to some or all of the facts in dispute or may issue
findings of fact and conclusions of law contrary to the
findings and conclusions of the hearing officer. The
Director shall provide a written explanation to the Committee
of any such deviations and shall specify with particularity
the reasons for said action in the final order.
(Source: P.A. 83-291.)
(225 ILCS 450/21) (from Ch. 111, par. 5527)
Sec. 21. Judicial review; cost of record; order as prima
facie proof.
(a) All final administrative decisions of the Board
Department hereunder shall be subject to judicial review
pursuant to the provisions of the Administrative Review Law,
and all amendments and modifications thereof, and the rules
adopted pursuant thereto. The term "administrative decision"
is defined as in Section 3-101 of the Code of Civil
Procedure.
Proceedings for judicial review shall be commenced in the
Circuit Court of the county in which the party applying for
review resides; provided, that if such party is not a
resident of this State, the venue shall be in Sangamon,
Champaign, or Cook County.
(b) The Board Department shall not be required to
certify any record to the court or file any answer in court
or otherwise appear in any court in a judicial review
proceeding, unless there is filed in the court with the
complaint a receipt from the Board Department acknowledging
payment of the costs of furnishing and certifying the record,
which costs shall be established by the Board Department.
Exhibits shall be certified without cost. Failure on the
part of the plaintiff to file such receipt in court shall be
grounds for dismissal of the action.
(c) An order of disciplinary action or a certified copy
thereof, over the seal of the Board Department and purporting
to be signed by the Chairman or authorized agent of the Board
Director, shall be prima facie proof, subject to being
rebutted, that:
(1) the signature is the genuine signature of the
Chairman or authorized agent of the Board Director;
(2) the Chairman or authorized agent of the Board
Director is duly appointed and qualified; and
(3) the Board Committee and the members thereof are
qualified to act.
(Source: P.A. 91-357, eff. 7-29-99.)
(225 ILCS 450/26) (from Ch. 111, par. 5532)
Sec. 26. Rules and regulations. The Board and the
Department shall adopt all necessary and reasonable rules and
regulations for the effective administration and enforcement
of the provisions of this Act; and without limiting the
foregoing the Board shall adopt and prescribe rules and
regulations for a fair and wholly impartial method of
determining the qualifications of applicants for examination
and for a fair and wholly impartial method of examination of
persons under Section 2 and may establish rules for subjects
conditioned and for the transfer of credits from other
jurisdictions with respect to subjects passed. All Department
university rules in effect on the effective date of this
amendatory Act of the 92nd General Assembly 1993 shall
continue in effect under the jurisdiction of the Board until
changed by the Board.
(Source: P.A. 88-36.)
(225 ILCS 450/27) (from Ch. 111, par. 5533)
Sec. 27. A licensed certified public accountant shall not
be required by any court to divulge information or evidence
which has been obtained by him in his confidential capacity
as a public accountant. This Section shall not apply to any
investigation or hearing undertaken pursuant to this Act.
(Source: P.A. 83-291.)
(225 ILCS 450/28) (from Ch. 111, par. 5534)
Sec. 28. Penalties. Each of the following acts
perpetrated in the State of Illinois is a Class B
misdemeanor.
(a) The practice of public accounting insofar as it
consists in rendering service as described in Section 8,
without licensure, in violation of the provisions of this
Act;
(b) The obtaining or attempting to obtain licensure as a
licensed certified public accountant by fraud;
(c) The use of the title "Certified Public Accountant"
or the abbreviation "C.P.A." or any similar words or letters
indicating the user is a certified public accountant, by any
person who has not received a certificate as a certified
public accountant from the Board;
(d) The use of the title "Certified Public Accountant"
or the abbreviation "C.P.A." or any similar words or letters
indicating that the members are certified public accountants,
by any partnership unless all members thereof personally
engaged in the practice of public accounting in this State
have received certificates as certified public accountants
from the Board, are licensed as licensed certified public
accountants by the Board Department, and are holders of an
effective unrevoked license, and the partnership is licensed
as licensed certified public accountants by the Board
Department with an effective unrevoked license;
(e) The use of the title "licensed certified public
accountant", "licensed CPA", "Public Accountant", or the
abbreviation "P.A." or any similar words or letters
indicating such person is a licensed certified public
accountant, by any person not licensed as a licensed
certified public accountant by the Board Department, and
holding an effective unrevoked license; provided nothing in
this Act shall prohibit the use of the title "Accountant" or
"Bookkeeper" by any person;
(f) The use of the title "Licensed Certified Public
Accountants", "Public Accountants" or the abbreviation
"P.A.'s" or any similar words or letters indicating that the
members are public accountants by any partnership unless all
members thereof personally engaged in the practice of public
accounting in this State are licensed as licensed certified
public accountants by the Board Department and are holders of
effective unrevoked licenses, and the partnership is licensed
as a public accounting firm accountants by the Board
Department with an effective unrevoked licenses;
(g) Making false statements to the Board Department
regarding compliance with continuing professional education
requirements.
(Source: P.A. 88-36.)
(225 ILCS 450/30) (from Ch. 111, par. 5535)
Sec. 30. The practice of public accounting, as described
in Section 8 of this Act, by any person in violation of this
Act is hereby declared to be inimical to the public welfare
and to be a public nuisance. An action to perpetually enjoin
from such unlawful practice any person who has been or is
engaged therein may be maintained in the name of the people
of the State of Illinois by the Attorney General of the State
of Illinois, by the State's Attorney of any county in which
the action is brought, by the Board Department or by any
resident citizen. The injunction proceeding shall be in
addition to and not in lieu of any penalties or other
remedies provided by this Act. No injunction shall issue
under this section against any person for any act exempted
under Section 11 of this Act.
If any person shall practice as a licensed certified
public accountant or hold himself out as a licensed certified
public accountant without being licensed under the provision
of this Act then any licensed certified public accountant,
any interested party or any person injured thereby may, in
addition to the Board Director, petition for relief as
provided in subsection (a) of this Section.
Whenever in the opinion of the Board Department any
person violates any provision of this Act, the Board
Department may issue a rule to show cause why an order to
cease and desist should not be entered against him. The rule
shall clearly set forth the grounds relied upon by the Board
Department and shall provide a period of 7 days from the date
of the rule to file an answer to the satisfaction of the
Board Department. Failure to answer to the satisfaction of
the Board Department shall cause an order to cease and desist
to be issued forthwith.
(Source: P.A. 83-291.)
(225 ILCS 450/30.1) (from Ch. 111, par. 5535.1)
Sec. 30.1. No person, partnership, or corporation, or
other entity licensed or authorized to practice under this
Act or any of its employees, partners, members, officers or
shareholders shall be liable to persons not in privity of
contract with such person, partnership, or corporation, or
other entity for civil damages resulting from acts,
omissions, decisions or other conduct in connection with
professional services performed by such person, partnership,
or corporation, or other entity, except for:
(1) such acts, omissions, decisions or conduct that
constitute fraud or intentional misrepresentations, or
(2) such other acts, omissions, decisions or conduct, if
such person, partnership or corporation was aware that a
primary intent of the client was for the professional
services to benefit or influence the particular person
bringing the action; provided, however, for the purposes of
this subparagraph (2), if such person, partnership, or
corporation, or other entity (i) identifies in writing to the
client those persons who are intended to rely on the
services, and (ii) sends a copy of such writing or similar
statement to those persons identified in the writing or
statement, then such person, partnership, or corporation, or
other entity or any of its employees, partners, members,
officers or shareholders may be held liable only to such
persons intended to so rely, in addition to those persons in
privity of contract with such person, partnership, or
corporation, or other entity.
(Source: P.A. 84-1251.)
(225 ILCS 450/32) (from Ch. 111, par. 5537)
Sec. 32. (a) This subsection (a) applies only until
July 1, 2004.
All moneys received by the Department of Professional
Regulation under this Act shall be deposited into the
Registered Certified Public Accountants' Administration and
Disciplinary Fund, which is hereby created as a special fund
in the State Treasury. The funds in the account shall be
used by the Department or the Board, as appropriated,
exclusively for expenses of the Department of Professional
Regulation, and the Public Accountants' Registration
Committee, or the Board in the administration of this Act.
Moneys in the Registered Certified Public Accountants'
Administration and Disciplinary Fund may be invested and
reinvested, with all earnings received from the investments
to be deposited into the Registered Certified Public
Accountants' Administration and Disciplinary Fund.
Moneys from the Fund may also be used for direct and
allocable indirect costs related to the public purposes of
the Department of Professional Regulation or the Board.
Moneys in the Fund may be transferred to the Professions
Indirect Cost Fund as authorized by Section 2105-300 of the
Department of Professional Regulation Law (20 ILCS
2105/2105-300).
(b) This subsection (b) applies beginning July 1, 2004.
All moneys received by the Board under this Act shall be
deposited into the Registered Certified Public Accountants'
Administration and Disciplinary Fund, a special fund in the
State treasury. The moneys in the Fund shall be used by the
Board, as appropriated, exclusively for expenses of the
Department of Professional Regulation and the Board in the
administration of this Act.
Moneys in the Registered Certified Public Accountants'
Administration and Disciplinary Fund may be invested and
reinvested, with all earnings received from the investments
to be deposited into the Registered Certified Public
Accountants' Administration and Disciplinary Fund.
(Source: P.A. 91-239, eff. 1-1-00.)
Section 99. Effective date. This Section, Section 5,
and the changes to Section 32 of the Illinois Public
Accounting Act take effect upon becoming law; all of the
other provisions take effect July 1, 2004.
Passed in the General Assembly May 30, 2001.
Approved August 21, 2001.
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