Bill Title: Amends the Illinois Public Accounting Act. Creates provisions that concern accounting activities and applicability of the Act. Makes changes to provisions concerning definitions; the Board of Examiners; the Public Accountant Registration Committee; the Administrative Procedure Act; transitional language; certification of out-of-State accountants; substantial equivalency; unauthorized use of title; violations; civil penalties; powers and duties of the Department; sharing of information; application for licensure; qualifications; foreign accountants; licensure by endorsement; additional requirements for firms; expiration and renewal of licenses; renewal of registration; continuing education; the provision concerning the restoration of registrations and licenses; inactive status; hearings; grounds for discipline; license or registration; subpoenas; depositions; oaths; the provision concerning the preservation a record at a hearing; criminal penalties; the provision concerning injunction proceedings; the improper influence on the conduct of audits; and misleading behavior by licensees. Repeals provisions concerning licensure; practicing as a licensed public accountant or licensed certified public accountant; unlicensed practice; and unlicensed practice; violations; and civil penalties. Amends the Regulatory Sunset Act to extend the repeal of the Illinois Public Account Act from January 1, 2014 to January 1, 2023. Effective July 1, 2012.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2013-01-08 - Session Sine Die [HB5773 Detail]

Text: Latest bill text (Introduced) [HTML]

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