What is the continuing professional education requirement for CPAs in Illinois?
120 hours
CPAs who are licensed in Illinois are required to have 120 hours of continuing professional education (CPE) credit during each three-year reporting cycle. Four of the 120 hours must be in ethics education and one hour must be in sexual harassment prevention training from an IDFPR approved continuing education provider.
What happens if you don’t get enough CPE?
Failure to complete 20 hours of acceptable CPE each year comes with disciplinary action: for the first offense there is a fine of $300, and for second or subsequent offenses there is formal action. The State Board of Accountancy has a schedule of civil penalties for CPAs who fail to meet their CPE requirements.
Do Webinars count as live CPE?
CPE webinars are online instruction courses that qualify as live events.
When can I renew my CPA license in Illinois?
Every three years, CPAs and CPA firms must renew their licenses and registrations with the Illinois Department of Financial and Professional Regulation (IDFPR), the state licensing and regulatory agency for CPAs and other professions.
Is there an extension on driver’s license renewals in Illinois?
Illinois Secretary of State Jesse White announced that expiration dates for driver’s licenses and ID cards have been extended an additional three months – from Jan. 1, 2022, to March 31, 2022. This extension does not apply to commercial driver’s licenses (CDL) and CDL learner’s permits.
What is the difference between CPE and CE?
The main differences are seen in how many credits are needed, who reports them, and whether they are voluntary or required. IRS Continuing Education (CE) is voluntary for PTIN holders who are participating in the Annual Filing Season Program. Continuing Professional Education (CPE) is required of CPAs in most states.
How do you get unstructured CPE credit?
Unstructured CPE Hours
- Self Learning Modules and Courses.
- Reading ICAI Journal or other Business Journals.
- Acting as Visiting Faculty of Various Universities.
- Providing solutions to questionnaires/ puzzles available on the web like caclubindia, charteredclub etc.
- Viewing of Programs on the web channel of ICAI.
What is self study CPE?
Self-study CPE provides CPE courses that can be accessed and navigated at your own leisure and in your own time. This allows you to set your own goals and focus your time on the sections and principles that are most applicable to you.
How do you get CPE credit?
Main Takeaways
- Check your State Board of Accountancy CPE requirements before making your CPE study plan.
- Register for CPA courses, webinars, and webcasts to earn your credit hours.
- Collect as much documentation to support the CPE credits you’ll claim.
- Keep your documentation for five years minimum.