Illinois Department of Financial & Professional Regulation Illinois Department of Financial & Professional Regulation
 
Manuel Flores, Acting Secretary  
Pat Quinn, Governor
www.idfpr.com
www.idfpr.comAgency Quick Links
IDFPR Home Page
Military Families
License Look Up
Physician Profile
License Renewals
Elder-Disabled Services (EDS)
Latest News
Mandatory State's Attorneys Reports
Medical Cannabis Program
Discipline Information
FOID Mental Health Reporting
Consumers
Professionals
Information About
IDFPR
Banking
Non-banking Financial Institutions
Professional Regulation
Real Estate
About IDFPR
Contact Information
General FAQs
Boards & Committees
Search IDFPR.com
Pay Our Bills.Illinois.Gov
State of Illinois Appointments
State of Illinois
Agencies, Boards & Commissions
PEER REVIEW REQUIREMENT FOR 2012 LICENSE RENEWAL
Please Note: Only the renewal methods offered here are available for this profession.

NOTICE:

Please read the PEER REVIEW REQUIREMENTS below and at the bottom of this page you will see a link to begin your renewal process.

Thank you,
IDFPR

 

LICENSED CERTIFIED PUBLIC ACCOUNTANT
PROFESSION CODE 065

PEER REVIEW REQUIREMENT FOR 2012 LICENSE RENEWAL

The Illinois Public Accounting Act requires licensees to satisfactorily complete a peer review as a “condition for granting a renewal license to firms and sole practitioners who provide services requiring a license under this Act” 225 ILCS 450/16(e).  This requirement applies to all renewals on or after July 1, 2012.

All sole practitioners who provided services requiring an Illinois license (i.e. audits or reviews of historical financial statements or examinations of prospective financial statements) and issued reports under their own name (i.e. separate and apart from a firm) within the two years immediately preceding the expiration date of their license must satisfactorily complete a peer review prior to renewing their license. Failure to satisfactorily complete a required peer review shall result in non-renewal of the individual’s license and may also result in further discipline.
Newly licensed sole practitioners are not immediately subject to the peer review requirement and instead must undergo their first peer review during the first full renewal cycle after they are granted their initial license.

The following questions are meant to assist in determining whether you are required to complete a peer review prior to renewing your Licensed Certified Public Accountant license.

  1. “Have you provided services requiring an Illinois license (audits or reviews of historical financial statements or examinations of prospective financial statements) and issued reports under your own name (e.g., John Jones, CPA) within the two years immediately preceding the expiration date of your Licensed Certified Public Accountant license?”          

 

If “yes,” go to question D. If “no,” go to question B.

  1. “Have you provided services requiring an Illinois license (audits or reviews of historical financial statements or examinations of prospective financial statements) as an owner or employee of a firm and issued reports under a firm or assumed name (e.g., Jones & Associates, Jones & Company, John Jones CPA, Ltd., Smith & Jones LLP, Smith & Jones, LLC, etc.) within the two years immediately preceding the expiration date for firm licenses?”         

 

If “yes,” go to question C. If “no,” you are not required to complete a peer review and may proceed with the renewal of your license.

  1. “Have you provided services requiring an Illinois license (audits or reviews of historical financial statements or examinations of prospective financial statements) separate and apart from any firm with which you might be affiliated within the two years immediately preceding the expiration date of your Licensed Certified Public Accountant license?”            

 

If “yes,” go to question D. If “no,” you are not required to complete a peer review and may proceed with the renewal of your license.

  1. “Have you satisfactorily completed a peer review within the three years immediately preceding the expiration date of your Licensed Certified Public Accountant license?”

 

If “yes,” you have complied with the peer review requirement and may proceed with the renewal of your license.  If “no,” you have not complied with the peer review requirement and you may not renew your license until you receive an acceptance letter from an approved Peer Review Administrator verifying acceptance.   



Professions in Renewal
Appraiser Education Provider
Appraisal Management Co
Appraiser Pre-License Course
Appraiser CE Course
Auctioneer
Auctioneer Exempt
Auction Firm
Architect
B.C.E.N.T. CE Sponsor
Controlled Substance License
Drug Distributor
Drug Distributor CS
Genetic Counselor
Hair Braider
Hair Braiding School
Hair Braiding Teacher
Home Inspector
Home Inspector Entity
Internet Auction Listing Service
Land Surveyor
Licensed Practical Nurse
Limited Liability Company
Massage Therapist
Massage Therapist CE Sponsor
Medical Corporation
Nail Technician
Nail Technology School
Nail Technology Teacher
Naprapath
Naprapath CE Sponsor
Nurse CE Sponsor
Pathology/Audiology CE Sponsor
Podiatrist
Podiatry CE Sponsor
Podiatry CS
Practical Nurse
Public Accountant CE Sponsor
Real Estate Branch Office
Real Estate Broker Corp
Real Estate Broker Partnership
Real Estate Limited Liability Firm
Salon/Shop Registration
Service Corporation
Structural Engineer
Veterinarian
Veterinary Technician
Veterinary CS
  If you have read the PEER REVIEW REQUIREMENTS FOR 2012 LICENSE RENEWAL AND ARE READY TO BEING YOUR RENEWAL PLEASE CLICK HERE.