IDFPR Enforcement of Certified Public Accountants

Certified Public Accountants are regulated by the State of Illinois. There are a number of different statutes that apply to Certified Public Accountants, as well as extensive administrative regulations. The primary statute that regulated the profession is the Illinois Public Accounting Act. The law and regulations include:

• Licensing standards and requirements,
• Scope of Certified Public Accountants practice and standards of care,
• Education requirements and standards, and
• Disciplinary action for violations of laws and regulations.

The significant regulation for Certified Public Accountants reflects the government’s interest in protecting the safety and welfare of citizens. Only Certified Public Accountants who meet specific requirements are permitted to practice in Illinois. IDFPR offers two categories of licenses:

• Certified Public Accountant
• Certified Public Accounting Firm

When Can a Certified Public Accountant Lose His or Her License — or Face Professional Discipline — in Illinois?

The Illinois Public Accounting Act contains numerous types of conduct that can warrant disciplinary action. Examples of issues regulated by the Act and the corresponding administrative rules include:

• Revocation or suspension of the right to practice by or before any state or federal regulatory authority or by the Public Company Accounting Oversight Board.
• Performance of any fraudulent act while holding a license or privilege issued under this Act or prior law.
• Making or filing a report or record that the registrant or licensee 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 only those that are signed in the capacity of a licensed CPA or a registered CPA.
• Physical illness, including, but not limited to, deterioration through the aging process or loss of motor skill that results in the licensee or registrant’s inability to practice under this Act with reasonable judgment, skill, or safety.