Illinois passes CPA mobility legislation
The Illinois CPA Society has been successful in working with the Illinois legislature to achieve passage of a bill in 2007 that increases the ability for CPAs to serve their clients and organizations across state lines without having to file a request for temporary practice and pay a fee. Unanimously passed by both chambers of the state legislature, SB745 was sent to the governor on June 27, 2007 and awaits his signature. Once signed by the governor, these amendments to the Illinois Public Accounting Act, which will be effective on January 1, 2008, include the following:
Out-of-state CPAs holding a valid CPA license in another state will not need to obtain an Illinois license, registration, or temporary practice permit in order to practice public accounting in Illinois or hold themselves out as a CPA in Illinois.
Out-of-state CPAs exercising the practice privilege above agree to comply with the Illinois Public Accounting Act and be subject to the disciplinary jurisdiction of the Illinois Department of Financial & Professional Regulation.
Any CPA firm that does not have an office in Illinois but performs audit services for an entity headquartered in Illinois must hold a valid Illinois public accounting firm license.
You can read bill SB745 in its entirety by following the instructions on the Illinois CPA Society's web site.
The Illinois CPA Society joins other states across the country in a nation-wide effort to enhance the mobility of CPAs. The following states currently have legislation similar to that passed in Illinois this year, providing these same benefits to Illinois CPAs:
Four states (Delaware, Hawaii, Massachusetts and Oklahoma) are completing their mobility legislation this year, with more states at various beginning stages of the process.