Educational Requirements
Candidates for CPA licensure in the state of Illinois must hold at least a bachelor’s degree with 150 credit hours.
Salary
In May 2011, the Bureau of Labor Statistics (BLS) estimated that 41,720 accountants and auditors were employed in Illinois. The average wage for accountants and auditors in Illinois in 2011 was $71,330.
CPA Licensing in Illinois
The Illinois Board of Examiners approves CPA certification only. Illinois CPAs are licensed by the Illinois Department of Financial and Professional Regulation (IDFPR). To take the CPA exam, and then be certified by the board, a person must meet the following academic requirements:
- 150 semester credit hours of college or university study that includes an accounting concentration or equivalent.
- Hold a bachelor’s degree or higher.
- Complete the AICPA’s professional ethics course.
- Education requirements to sit for the CPA exam will change July 1, 2013. Current and upcoming education requirements are available on the Illinois Board of Examiners website.
- If a candidate has previously qualified academically to take the CPA exam any time in the past, the candidate does not have to meet the new requirements.
Requirements to be issued a license:
- Pass the CPA examination and provide the IDFPR with verification of Illinois CPA certificate.
- One year of full-time employment experience providing service or advice involving the use of accounting skills.
Continuing Education Requirements
Illinois CPA licenses are renewed triennially. Illinois CPAs must complete 120 credit hours of continuing professional education (CPE), including four hours of ethics, within those 36 months.
Accounting Jobs in Illinois
All of the “Big Four” accounting firms, PricewaterhouseCoopers, Deloitte, KPMG, and Ernst & Young, have sizeable office locations in the Chicago area. While some accountants in Illinois hold positions as tax preparers, bookkeepers, or enrolled agents, it is typical that positions within the large accounting firms and corporations are held by licensed CPAs. Chicago is home to over 30 Fortune 500 companies, each of which offers potential accounting job opportunities for management accountants, internal auditors, financial controllers, and capital accountants.