to become a CPA/CPA in Illinois

CPAs are needed by Illinois businesses to lead, analyze, and think about the future of their business. Illinois, home to Chicago, America’s third most populous city, offers a wide range of opportunities for ambitious CPAs.

Accountants can also find rewarding careers in this diverse state, with its farmland and small towns. Illinois CPAs have a variety of career options, including healthcare, government, public service and law enforcement.

Illinois CPA Requirements include experience, education and other factors. In the guide below, you can learn more about how to be a CPA.

The Education Requirements to Become a CPA In Illinois

You must have 150 college credits including a Bachelor’s degree or a graduate degree to become a CPA in Illinois. Illinois provides three ways to meet this requirement.

After you have completed an undergraduate accounting program, you may complete a graduate accounting degree from an accredited institution and a program accredited by the Association to Advance Collegiate Schools of Business or Association of Collegiate Business Schools and Programs.

If the accounting program has 30 credits, you can pursue a business degree from an accredited institution.

A candidate can also earn a master’s in business or a bachelor’s in accounting with 24 credits of business and 30 credits of accounting. Since a bachelor’s degree usually comprises 120 credits, an accelerated bachelor’s-to-master’s program can help students meet Illinois’ additional 30-credit requirement.

Concentrations, credits, and course acceptance

It is easiest to fulfill Illinois CPA requirements by majoring in business or accounting at an accredited institution. Your program must be accredited by the AACSB, ACBSP or both. The Illinois Board of Examiners will accept online coursework that has a grade of P or letter grade “D-” and better.

If they meet certain criteria, the board will also accept CLEP, AP Dante, IIC or ACT/SAT credits. CPA review classes only count as credits if they were taken at an accredited institution. You can then count up to 6 credits towards your requirements.

Your academic record can include internships for credit and courses abroad. The board will not give credit for duplicate coursework.

If your transcripts do not list your life experience, you cannot count it towards your academic requirements. These transcripts must also include significant coursework in taxation, auditing and financial accounting. Below is a list of Illinois course requirements.

Illinois Experience Requirements

Illinois Department of Financial and Professional Regulation issues licenses to candidates who hold CPA certification and have completed at least a year of full-time work experience or the equivalent. Illinois defines one year of experience as 12 months of continuous work with an average of twenty days per month, for a total 1,500 hours.

The equivalency for full-time work experience can be met by working 2,000 hours at a qualifying job over a period of more than one but less than four year. Only work done after you have completed the CPA exam credits can be counted. Internship credits are usually applied to educational requirements, and not the experience requirement.

The department gives credit for work done in government, industry, academia or public practice. The work does not need to be performed under the supervision of an accredited CPA. Work must be related to taxation, accounting, consulting, attestation, financial advisory or management advisory. On CPA application form, applicants document their work experiences.

CPA Exam Requirements

You must pass the Unified CPA Examination to become a CPA. This exam has four sections: financial accounting, reporting and regulation, and business environment.

The eligibility requirements, scheduling, and steps after the exam are different in each jurisdiction. These sections provide information on Illinois CPA requirements.

Exam Eligibility

You must complete 150 credits in Illinois to be eligible for the test. This should include all coursework and a bachelor or master’s in business or accounting.

The board will evaluate your education and determine if you are eligible to take the exam when you submit your transcripts. You will be sent a letter outlining any additional academic requirements, or approving you to take the exam.

You have 18 months from the date of approval to complete all four sections. You must also pass AICPA’s Exam on Ethics.

Illinois does not require that you have a Social Security number, be a citizen, or be over the age of 18 to take the CPA examination. You can transfer all four sections of the CPA exam to Illinois if you’ve taken them in another state. To do this, complete the Transfer of Credit form and pay the $345 fee. You must complete the Application for Evaluation of Domestic or Foreign Credentials if you have only completed three sections.

Exam Schedule and Application

You can submit your Initial Exam Request to the Illinois Board of Examiners once you have met the Uniform CPA Exam eligibility requirements. The first time you apply for the exam, and every subsequent application after that, test-takers will need to request ADA accommodations. If you choose up to four sections, the first request allows you to pay for them all and complete the entire exam within six months.

After opening a new account, you have 90 days to settle your fees. The following fees apply to exam applications:

• 1 exam: $ 40
• 2 different exam sections: $76
• 3 different exam sections: $108
• 4 different exams sections: $120

You will receive a Notice to Schedule in your email a few days after you have paid. You can use your NTS to register on the site. After registering at a Prometric local location, you’ll be required to sign a Uniform CPA Exam Conduct and Nondisclosure Agreement. This agreement outlines the code of conduct for test takers.

You can schedule a section again if you don’t get a score of at least 75 on each.

After passing the Exam

You must complete the AICPA Ethics Exam after passing the CPA examination and submit the results of the exam to the Illinois Board of Examiners. You will receive a letter from the board that contains your certification number. This number can be used to apply for an Illinois CPA license via the Illinois Department of Financial and Professional Regulation. A $120 fee is required by the department.

Before submitting your application for licensure, you must have completed one year of experience working full-time in an accounting related field. You will need to complete 90 continuing education hours if you wait more than four years to apply for a license after receiving certification.

Maintaining your Licensure

CPA licenses in Illinois expire every 3 years. CPAs receive a reminder via email to complete their renewal.

The state board requires that a CPA renew their license by completing 120 hours of CPE (continuing professional education) during the period of licensing. The training must include at least four hours on ethics and an hour on sexual harassment prevention.

It must be a sponsor that is approved. Find approved providers using the License Lookup Tool, or the CPE National Registry.

It is your responsibility to track and record CPEs. You do not need to provide proof of training. However, you should retain copies of your attendance certificates in the event that you are audited. You are exempted from CPE requirements for your first renewal.

You must renew your CPA license in Illinois if you have a CPA in Illinois and in another state. It is not necessary to perform two separate sets of renewal tasks.

CPAs and Illinois

How can I register as a CPA in Illinois?

Illinois discontinued the Registered CPA designation in 2012. It now only recognizes the CPA who is licensed. The 150-hour requirement for licensure includes a bachelor’s or master’s degree. The applicant must pass the CPA exam and the ethics test, work full-time for a year, submit the application, and complete all four parts of the CPA examination.

Who is eligible to take the CPA exam in Illinois?

The exam is open to applicants who have 150 credits in accounting or business related fields earned from institutions accredited by the AICPA.

How long does it usually take to become a CPA in Illinois?

The average bachelor’s degree in Illinois is 120 credits. It takes about four years to finish the degree. The CPA exam must be passed in 18 months. Applicants also need to work full-time for a year. Total, it could take up to six years or more to become a CPA.

How difficult is it to get a CPA’s license in Illinois?

CPA licensing can be more challenging than other careers, but is generally in line with other states’ CPA requirements.

What is the cost of becoming a CPA?

The Illinois Department of Financial and Professional Regulation charges a fee of $120 to each applicant for licensure. CPA aspirants also pay $226.50 per part of the CPA examination.

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Author: Alaina McCartney