Repository: UIHistories Project: Board of Trustees Minutes - 1904 [PAGE 118]

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UNIVERSITY OF ILLINOIS,

CERTIFYING PUBLIC ACCOUNTANTS.

[June 8,

At the last session of the Legislature an Act was passed putting upon the University the responsibility of examining and certifying public accountants in this State. The duty is a responsible and somewhat burdensome one, and makes i t necessary to create a n organization for the purpose if we are to meet i t safely. 1 think the main duty of supervising this business should be related to the department of economics, which includes our new courses in business training. I t has seemed to me well to create a University Committee on Accountancy to have charge of this work, which shall consist of the professor of economics, one of the professors in t h e commercial work, and the Eegistrar of the University. I submit t h e following outline of regulations for the purpose of creating the organization a n d providing for the proper conduct of examinations as well as for a system of records and certificates. AN ACT to regulate the profession of public accountants. Approved May 15, 1903. In force July 1, 1903. ple of the State of Illinois represented in the General Assembly^ That any citizen of the United States or person who has duly declared his intention of becoming such a citizen, having a place for the regular transaction of business as a professional accountant in the State of Illinois, being over the age of twenty-one years, of good moral character, being a graduate of a high school with a four years' course, or having had an equivalent education, and who shall have received from the University of Illinois a certificate of his qualifications to practice as a public expert accountant as hereinafter provided, shall be styled and known as a "Certified Public Accountant," and no other person shall assume such title or use the abbreviation, "C. P. A.," or any other words or letters to indicate that the person using the same is a Certified Public Accountant. TIONS.] Sec. 2. The University of Illinois shall determine the qualifications of persons applying for certificates under this act, and shall make rules for the examination of the same, and for this latter purpose shall appoint three examiners, at least two of whom shall be skilled in the practice of accounting and actively engaged therein in the State of Illinois, and the third shall be either an accountant of the grade herein described or an attorney skilled in commercial law. The time and place for holding the examinations shall be duly advertised, for not less than three consecutive days, in one daily newspaper published in each of the places where the examinations are to be held, not less than thirty days prior to the date of each examination. The examination shall be in "Theory of Accounts," "Practical Accounting," "Auditing" and "Commercial Law" as affecting accountancy. The examinations shall take place as often as may be necessary in the opinion of the University, but not less frequently than once a year. in their discretion, under regulations provided by their rules, waive all or any part of the examination of any applicant possessing the qualifications mentioned in section 1 who shall have had five successive years' previous experience as a public accountant previous to the date of application, who shall apply in writing within one year after the passage of this act, and who shall have been practicing in this State as a public accountant, on his own account, for a period of not less than one year next prior to the passage of this act; also to any person who shall have been actively in practice as a public accountant for not less than five years next prior to the passage of this act, outside of the State of Illinois, who shall have passed an examination equivalent, in the opinion of the University of Illinois, to the examination to be held under the provisions of this act. 4. CHARGE FOR EXAMINATION.] Sec. 4. (a) The University shall charge for the examination and certificate a fee of twenty-five dollars ($25.00) to meet the expenses of such examinations. This fee shall be passable by the applicant at the time of filing his application. (b) The examiners appointed by the University of Illinois shall be paid for the purpose of this act for the time actually expended in the pursuance of the duties imposed upon them by this act, an amount not exceeding ten dollars ($10.00) per day, and they shall be entitled to their necessary traveling expenses. All expenses provided for by this act must be paid from the receipts of this act, and no expense incurred under this act shall be a charge against the funds of the University (c) Prom the fees collected under section 4 the University of Illinois shall pay all the expenses incident to the examinations held under this act, the expenses of issuing certificates, the traveling expenses of the examiners, and their compensation while performing their duties under this act. 5. REVOKING CERTIFICATE.] Sec. 5. The University may revoke any certificate issued under the provisions of this act, for unprofessional conduct or other sufficient cause, provided that written notice shall have been previously mailed to the holder of such 'certificate twenty days before any hearing thereon, stating the cause for such

3. WHEN EXAMINATIONS MAY B E WAIVED.] Sec. 3. The University of Illinois may, 2. UNIVEESITY OF ILLINOIS TO DETERMINE QUALIFICATIONS — RULES — EXAMINA1. WHO MAY BECOME PUBLIC ACCOUNTANTS]. Sec. 1. Be it enacted by the Peo-