Certified Public Accountant in Bloomington, IL
The partners at Sulaski & Webb are your preferred Certified Public Accountants in Bloomington, IL. For over 30 years, we have specialized in helping individuals and businesses succeed by providing reliable auditing, accounting, and advising services with our consistent and ethical service.
Successful CPAs are capable of providing sound advice to their clients on every aspect of their operations to help the business create value. We pass on their success to our clients by applying our extensive experience in business processes, risk management, tax considerations, and organizational strategies to each individual situation.
Our CPAs always have the best interests of our clients in mind. In addition to having the technical skills such as an in-depth knowledge of micro and macroeconomics, applied mathematics for business, statistics, and financial accounting, we have business management experience and can help guide each client to their individual solution.
Small Business CPA
Steps to Becoming a CPA in Illinois
As of July 1, 2012, Illinois is no longer “two-tier” in terms of CPA certification and licensure, which means that all CPAs in Illinois must pass the Uniform CPA Exam, gain work experience, and then pursue state licensure to practice. This regulation change aligns Illinois with the framework of the Uniform Accountancy Act (UAA), which seeks to get all states on the single-tier track to CPA licensure.
As such, there are now a series of steps in becoming a CPA in Illinois. First, candidates must complete an undergraduate program and a masters program. Qualifying for a CPA license requires a bachelor’s degree at a minimum and a total of 150 semester hours of college credit to include coursework in accounting, business, and ethics. Because a bachelor’s program typically results in only 120 semester hours of credit, the American Institute of CPAs (AICPA) maintains that earning a Master of Science in Accounting is the best way to achieve the full 150 semester hours needed to become licensed.
Second, after completing the educational requirements, candidates qualify to sit for the Uniform CPA Examination in Illinois. The final transcript is submitted, showing completion of educational requirements to the Illinois Board of Examiners (IBOE). An account is created through IBOE's online system, where the credentials evaluation application is completed. Candidates then wait for an approval letter from the IBOE authorizing them to take the exam. The exam is then scheduled and taken, and the candidates await the notification of their scores.
Third, candidates need to fulfill experience requirements. A course on professional ethics offered by the AICPA should be taken and passed. Candidates must score at least 90% on this open-book exam before being issued a CPA certificate. After passing the Uniform CPA Exam and the AICPA Ethics Exam, candidates automatically receive certification as a CPA from the IBOE. However, they are not yet licensed as CPAs. To obtain a CPA license, a candidate must obtain one year supervised experience in a position within the government, industry, academia, or public practice, where he or she provides service or advice in accounting, attestation, management advisory, financial advisory, or tax consultation. This work experience must be documented.
Lastly, once experience is completed, candidates are now eligible for an Illinois CPA license. This license must be maintained through continuing professional education (CPE). In particular, licensed CPAs in Illinois must obtain 120 hours of CPE every three years. Four out of the 120 hours must cover ethics. Moreover, licensed CPAs are exempt from CPE requirements for their first renewal.
Experienced Certified Public Accountants in Bloomington, IL
As experienced CPAs, the partners at Sulaski & Webb can create value for your business by combining our knowledge of business and strategic skills to come up with fresh ideas. In addition, we use the best practices in the industry gained through continuous learning to ensure that you make well-informed decisions for your business. We value professionalism and integrity in all services that we provide.
At Sulaski & Webb, we are committed to providing close, personal attention to all clients. We take pride in giving you the assurance that the personal assistance you receive comes from years of training and experience. Our reputation is built on a foundation of satisfied clients, and our goal is your complete satisfaction. Whether we are providing audit & accounting services, tax & advisory services, or any other financial assistance, we always have your best interests in mind.
Contact Sulaski & Webb today for more information about our services!