093_HB3157

 
                                     LRB093 09103 AMC 09335 b

 1        AN ACT concerning certified public accountants.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The Illinois Public Accounting Act is amended
 5    by adding Section 30.4 as follows:

 6        (225 ILCS 450/30.4 new)
 7        (Section scheduled to be repealed on January 1, 2014)
 8        Sec. 30.4.  Improper influence on conduct of audits.
 9        (a)  It  shall be unlawful for any officer or director of
10    an issuer of financial statements, or any other person acting
11    under  the  direction  thereof,  to  take   any   action   to
12    fraudulently  influence,  coerce,  manipulate, or mislead any
13    certified public accountant engaged in the performance of  an
14    audit  of  the  financial  statements  of that issuer for the
15    purpose of  rendering  the  financial  statements  materially
16    misleading.
17        (b)  The  provisions of this Section shall be in addition
18    to, and shall not supersede or preempt, any  other  provision
19    of law or any rule adopted thereunder.
20        (c)  Violation of this Section is a Class 4 felony.

21        Section  99.  Effective date.  This Act takes effect upon
22    becoming law.