Illinois Compiled Statutes - Full Text

  1. Home
  2. Legislation
  3. Illinois Compiled Statutes

Illinois Compiled Statutes - Full Text

Illinois Compiled Statutes (ILCS)

Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.


225 ILCS 450/5.2

    (225 ILCS 450/5.2)
    (Section scheduled to be repealed on January 1, 2029)
    Sec. 5.2. Enhanced mobility.
    (a) An individual whose principal place of business is not in this State shall have all the privileges of a person licensed under this Act as a licensed CPA without the need to obtain a license from the Department or to file notice with the Department, if the individual:
        (1) holds a valid license as a certified public
    
accountant issued by another state if the licensure requirements of the issuing state are equivalent to the criteria outlined in Section 14; or
        (2) holds a valid license as a certified public
    
accountant issued by another state that is not equivalent to the criteria outlined in Section 14 and petitions the Committee for, and obtains from the Committee, an equivalency determination of education, exam, and experience; however, any individual who has passed the Uniform CPA Examination and holds a valid license issued by any other state prior to January 1, 2012 shall be exempt from the education requirements of Section 3 of this Act for the purposes of this item (2).
    (a-5) A CPA firm whose principal place of business is not in this State shall have all the privileges of a CPA firm licensed under this Act without the need to obtain a license from the Department or to file notice with the Department if the CPA firm complies with the requirements outlined in Sections 14.4 and 16 through enhanced mobility of the firm's licensed state.
    (b) Notwithstanding any other provision of law, an individual or CPA firm who offers or renders professional services under this Section, whether in person or by mail, telephone, or electronic means, shall be granted practice privileges in this State and no notice or other submission must be provided by any such individual or CPA firm.
    (c) An individual licensee or CPA firm of another state exercising the privilege afforded under this Section and the CPA firm that employs such individual licensee, if any, as a condition of the grant of this privilege, hereby simultaneously consents:
        (1) to the personal and subject matter jurisdiction
    
and disciplinary authority of the Department;
        (2) to comply with this Act and the Department's
    
rules adopted under this Act;
        (3) that in the event that the license from the state
    
of the individual's or CPA firm's principal place of business is no longer valid, the individual or CPA firm shall cease offering or rendering accountancy activities as outlined in paragraphs (1) and (2) of Section 8.05 in this State individually or on behalf of a CPA firm; and
        (4) to the appointment of the state board that issued
    
the individual's or the CPA firm's license as the agent upon which process may be served in any action or proceeding by the Department against the individual or CPA firm.
    (d) An individual licensee who qualifies for practice privileges under this Section who, for any entity headquartered in this State, performs (i) a financial statement audit or other engagement in accordance with Statements on Auditing Standards; (ii) an examination of prospective financial information in accordance with Statements on Standards for Attestation Engagements; or (iii) an engagement in accordance with Public Company Accounting Oversight Board Auditing Standards may only do so through a CPA firm licensed under this Act or a CPA firm with practice privileges under this Section.
    (e) A CPA firm that qualifies for practice privileges under this Section and, for any entity headquartered in this State, performs the following may only do so through an individual or individuals licensed under this Act or an individual or individuals with practice privileges under this Section:
        (1) a financial statement audit or other engagement
    
in accordance with Statements on Auditing Standards;
        (2) an examination of prospective financial
    
information in accordance with Statements on Standards for Attestation Engagements; or
        (3) an engagement in accordance with Public Company
    
Accounting Oversight Board auditing standards.
(Source: P.A. 103-309, eff. 1-1-24; 104-228, eff. 1-1-26.)