Illinois CPA Requirements: A Complete Guide
Navigate the path to becoming a CPA in Illinois with insights on education, exams, experience, and maintaining your license.
Becoming a Certified Public Accountant (CPA) in Illinois is a significant milestone for accounting professionals, offering enhanced career opportunities and credibility. The CPA designation signifies a commitment to the highest standards of expertise and ethics in the field.
This guide outlines the essential requirements for obtaining and maintaining CPA licensure in Illinois. Understanding these criteria is crucial for aspiring CPAs navigating their professional journey.
Educational Prerequisites
To become a CPA in Illinois, candidates must complete a bachelor’s degree from an accredited institution, totaling at least 150 semester hours. This includes 30 hours in accounting subjects such as financial accounting, auditing, taxation, and managerial accounting, along with 24 hours in business-related courses. These requirements ensure candidates are well-versed in Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS), with additional coursework in business law, economics, and finance to provide broader business knowledge.
For those without an accounting-focused degree, Illinois offers flexibility through post-baccalaureate or master’s programs in accounting. These options enable candidates to meet the 150-hour requirement while deepening their expertise in specialized areas of accounting.
Exam Application Process
Once the educational requirements are met, candidates apply to the Illinois Board of Examiners to sit for the Uniform CPA Examination. This process involves submitting an application with official transcripts verifying coursework and semester hours. Upon approval, candidates receive a Notice to Schedule (NTS), allowing them to select testing windows and locations.
The Uniform CPA Examination consists of four sections: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG). Each section evaluates candidates’ understanding of accounting principles, standards, and regulations through multiple-choice questions, task-based simulations, and written components. Thorough preparation, including review courses and practice exams, is essential for success.
Experience Requirements
In Illinois, CPA candidates must complete one year (12 months or 2,000 hours) of full-time work in an accounting role under the supervision of a licensed CPA. This experience involves tasks such as preparing financial statements, conducting audits, or managing tax-related duties. Working under a licensed CPA provides mentorship and reinforces professional judgment and ethical standards.
A variety of industries and roles can fulfill this requirement, including public accounting firms, corporate finance departments, and governmental agencies. This flexibility allows candidates to align their experience with their career goals.
Continuing Education (CPE)
Maintaining a CPA license in Illinois requires completing 120 hours of Continuing Professional Education (CPE) every three years, with at least four hours focused on ethics. This ensures CPAs stay current with changes in accounting standards, tax laws, and financial regulations.
CPAs can meet these requirements through seminars, webinars, and professional conferences, which also provide opportunities to network with peers.
License Renewal Process
The Illinois Department of Financial and Professional Regulation (IDFPR) manages the CPA license renewal process, which occurs every three years. CPAs must document and submit their completed CPE hours to the IDFPR, including details such as course titles, providers, and completion dates, as these records may be audited.
Timely renewal is crucial to avoid penalties or disciplinary actions. CPAs should track renewal deadlines and requirements to ensure uninterrupted professional practice.