Rep. Robert Rita
Filed: 5/11/2017
 
 

 

 

 
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1
AMENDMENT TO SENATE BILL 899 




2    AMENDMENT NO. ______. Amend Senate Bill 899 on page 1, line 
35, after "and 16", by inserting "and adding Section 14.5"; and


 
4on page 2, immediately below line 9, by inserting the 
5following:
6    ""Coordinator" means the CPA Coordinator."; and
 
7on page 10, immediately below line 14, by inserting the 
8following:
 
9    "(225 ILCS 450/14.5 new)
10    Sec. 14.5. CPA Coordinator; duties. The Secretary shall 
11appoint a CPA Coordinator, who shall hold a currently valid CPA 
12license or registration. The Coordinator shall not practice 
13during the term of his or her appointment. The Coordinator 
14shall be exempt from all fees related to his or her CPA license 
15or registration that come due during his or her employment. In 
 
 
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1appointing the Coordinator, the Secretary shall give due 
2consideration to recommendations made by members, 
3organizations, and associations of the CPA and accounting 
4profession. The Coordinator shall:
5        (1) act as Chairperson of the Committee, ex officio, 
6    without a vote;
7        (2) be the direct liaison between the Department, the 
8    profession, and CPA and accounting organizations and 
9    associations;
10        (3) prepare and circulate to licensees any educational 
11    and informational material that the Department deems 
12    necessary for providing guidance or assistance to 
13    licensees;
14        (4) appoint any necessary committees to assist in the 
15    performance of the functions and duties of the Department 
16    under this Act; and
17        (5) subject to the administrative approval of the 
18    Secretary, supervise all activities relating to the 
19    regulation of the CPA profession."; and
 
20on page 13, by replacing lines 17 through 21 with the 
21following:
22    "A new CPA firm or sole practitioner shall not be required 
23to comply with the peer review requirements for the first 
24license renewal. A CPA firm or sole practitioner shall comply 
25with the Department's rules adopted under this Act and agree to 
 
 
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1notify the Peer Review Administrator within 30 days after 
2accepting an engagement for services requiring a license under 
3this Act and to undergo a peer review within 18 months after 
4the end of the period covered by the engagement. undergo its 
5first peer review during the first full renewal cycle after it 
6is granted its initial license.".