Illinois Cpa Exam License Requirements 2022

Illinois CPA Exam

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However, please note that the Illinois Department of Financial & Professional Regulation (IDFPR) is the CPA License issuing authority, while the ILBOE confers the CPA Certificate. Being a two-tier state, Illinois requires candidates to apply for the CPA Certificate after qualifying the CPA ExamCPA ExamA Certified Public Accountant (CPA) is a US state board-issued license to practice the accounting professionread more and the Ethics Exam. Thereafter, the certificate holders must fulfill the experience and other conditions to receive the license from the IDFPR.

The CPA License is the official permit that confers all rights and privileges to practice public accounting in the state. On the other hand, the CPA Certificate just allows you to use the designation. Know that the U.S. province also participates in the International Examination Program.

Now, let’s examine the Illinois CPA exam and license requirements closely.

Here is the Illinois CPA licensure process.

Contents

Illinois CPA Exam Requirements

Eligibility RequirementsFeesRequired DocumentsApplication Process

Ethics Requirements

CPA Certification Process

Illinois CPA License Requirements

Education RequirementsExam RequirementsExperience Requirements

Continuing Professional Education (CPE)

Illinois Exam Information & Resources

Illinois CPA Exam Requirements

The computerized Uniform CPA Examination incorporates four sections. It tests different facets of the accounting profession to assess your capability and professionalism as an entry-level CPA.

The American Institute of Certified Public Accountants (AICPA) maintains, scores, and develops the exam in collaboration with the National Association of State Boards of Accountancy (NASBA).

You must score 75 points on a scale of 0-99 in each of the following sections to qualify the exam:

Regulation (REG CPA ExamREG CPA ExamREG CPA Exam (Regulation) exam section tests a candidate’s competency in applying the concepts of federal taxation, business law, and ethics. It is a four-hour exam with 15 minutes break.
read more) Auditing & Attestation (AUD CPA ExamAUD CPA ExamAuditing and Attestation (AUD) is one of the four Uniform Certified Public Accountant (CPA) Exam sections to be passed for CPA licensure. With a complex exam format, tricky questions, and an exhaustive list of topics to study, you will benefit from some quick tips on the art of preparing for the AUD CPA exam section.read more)Financial Accounting & Reporting (FAR CPA ExamFAR CPA ExamThe Financial Accounting and Reporting (FAR) CPA Exam section tests a candidate’s competency in understanding and applying financial accounting and reporting standards.read more)Business Environment & Concepts (BEC CPA ExamBEC CPA ExamThe BEC CPA Exam (Business Environment and Concepts) exam section evaluates your understanding of the general business environment and your duties and responsibilities as a CPA towards it. It assesses your ability to recognize and scrutinize situations related to Financial reporting, Financial statement audit and attestation and Tax preparation
read more)

Each of these sections consists of five testlets to be finished in four hours. The exam has three types of questions: multiple-choice questions (MCQs), task-based simulations (sims), and written communication tasks (WCTs). You have 18 months from the date you pass the first section to finish the exam.

Please note that AUD, FAR, and REG consists of only MCQs and sims. At the same time, BEC includes WCTs along with MCQs and sims.

Eligibility Requirements

Illinois exam applicants must earn at least 150 semester hours (225 quarter hours) from a regional academic institute that is:

A member of the Council for Higher Education Accreditation (CHEA)Accredited by the Association to Advance Collegiate Schools of Business (AACSB)Accredited by the Accreditation Council for Business Schools & Programs (ACBSP)

The applicants may acquire the required education through one of the following ways:

Applicants may also get life experience and internships credits for accounting and business requirements. However, the credits must not exceed the following limits:

Maximum 3 semester hours toward 30-semester hour accounting requirementMaximum 3 semester hours toward 24-semester hour business requirement

Fees

Candidates testing at U.S. Prometric centers:

Candidates testing at International Prometric Centers:

Remember to pay the examination fees via the NASBA Payment Coupon within the expiration period, i.e., 90 days. Also, you must take up the selected section(s) within six months of the Notice to Schedule (NTS) expiry period.

Required Documents

Below-mentioned is the list of the required documents.

Please note that official transcript(s) may also be submitted electronically directly from the academic institution to [email protected]

Here are the credential evaluation charges:

Application Process

Before applying for the CPA Exam, you must create an online account with ILBOE and submit a domestic credential evaluation application and fee. The evaluation result release may take 6-8 weeks. Note that you can proceed to submit your initial exam application and fee before or after getting your evaluation results. However, the exam application will be accepted only after the approval of your evaluation.

On acceptance of your application, you may proceed to create a NASBA Online account and pay the exam fees. After that, NASBA issues the NTS through which you can schedule and take the desired exam sections.

Here is the Illinois CPA examination process.

Ethics Requirements

Illinois also requires you to pass an Ethics Exam to obtain the CPA Certificate. Then, you may proceed toward fulfilling the licensure requirements.

Ensure to complete the AICPA self-study course named “Professional Ethics: The AICPA’s Comprehensive Course.” Take the online test at the end of the course and obtain a minimum of 90% to pass.

Here lie all the details.

Certification Process

Once your ILBOE online account reflects your CPA Exam and Ethics Exam score, the ILBOE begins the certification process. You will receive a certification letter listing your certification number and certification date through email. The ILBOE sends this information to the IDFPR.

You may apply to IDFPR for the license after the second week of receiving the certification letter via email. You will receive a hard copy certificate six weeks from the certification letter’s date.

Please note that candidates can also receive the CPA Certificate after successfully passing the International Qualifications Exam (IQEX) with a minimum of 75 points. They must submit their examination score to the ILBOE.

Illinois CPA License Requirements

Now that you know the CPA exam requisites, let’s look into the requirements for obtaining the Illinois CPA License. Applicants must fulfill the following licensure preconditions:

Obtain Social Security Number (SSN)Meet 150 semester hours of educationPass the Uniform CPA Exam with at least 75 points in each sectionPass the AICPA Professional Ethics ExaminationGain one year of relevant work experience

There is no minimum age, U.S. citizenship, or state residency requisites to be fulfilled for licensure. Note that if the candidates apply for a license after four years of receiving the CPA Certificate, they must also meet the following requirements:

90 hours of continuing professional education (CPE), including:4 hours of professional ethics1 hour of sexual harassment training (from an IDFPR-approved provider)

Candidates must meet the CPE requirement within three years immediately before the licensure application date. Apply for your license with the non-refundable fees ($120) and transcripts to IDFPR. For information on the complete process, please check the IDFPR official portal. Also, look at CPEs for CPACPEs For CPAAs a Certified Public Accountant (CPA), you need to acquire Continuing Professional Education or CPE credits for sustaining your license. This ensures that you are actively involved in improving your know-how of the profession by engaging in learning activities.read more

4 hours of professional ethics1 hour of sexual harassment training (from an IDFPR-approved provider)

Education Requirements

Illinois CPA aspirants must complete 150 semester hours with at least a bachelor’s or graduate degree from an accredited academic institute. For more information, kindly visit the Eligibility Requirements section.

Exam Requirements

Applicants must pass the four-part licensure test within a rolling 18-month period. Ensure to score at least 75 points in each section. Refer to the Illinois Exam Requirements section for complete details.

Experience Requirements

Below-mentioned is the checklist for experience requirements.

Note that it is not essential to acquire the experience under the supervision of a licensed CPA.

Continuing Professional Education (CPE)

The Illinois CPA License requires renewal every three years with 120 CPE credit hours. Moreover, you must obtain the necessary hours only through programs offered by the NASBA National Registry of Sponsors.

Let’s take a look at all the details.

Illinois is an exceptional state to hold the most reputed accounting license. It offers you the best of both worlds. You may grasp countless opportunities in big cities or work in the calming yet resourceful small towns.

The IDFPR, ILBOE, and ICPAS websites offer access to timely information about changes to the Illinois CPA exam and license requirements. Moreover, you may also participate in their virtual fairs and avail several accounting jobs or internships.

Illinois Exam Information & Resources

Illinois Board of Examiners (https://www.ilboe.org/)

1120 E. Diehl Rd Suite 107,Naperville, IL. 60563

Phone: 815-753-8900

Fax: 815-753-8953

[email protected]

Illinois CPA Society (https://www.icpas.org/)

ICPAS (Chicago)

550 W. Jackson, Suite 900, Chicago, IL 60661-5742

P: 312.993.0407 or 800.993.0407 (IL only)

F: 312.993.9432

ICPAS (Springfield)

524 South 2nd, Suite 504, Springfield, IL 62701-1705

P: 217.789.7914 or 800.572.9870 (IL only)

F: 217.789.7924

Illinois Department of Financial & Professional Regulation (https://www.idfpr.com/)

Chicago Office555 West Monroe Street, 5th FloorChicago, IL 60661Springfield Office320 West Washington Street, 3rd FloorSpringfield, IL 62786

Phone: 1 (888) 473-4858

NASBA (https://nasba.org/)

150 Fourth Ave. North

Suite 700

Nashville, TN 37219-2417

Tel: 615-880-4200

Fax: 615-880-4290