Repository: UIHistories Project: Board of Trustees Minutes - 1986 [PAGE 238]

EXTRACTED TEXT FROM PAGE:

1985]

UNIVERSITY OF ILLINOIS

227

By consensus, the board agreed that one vote would be taken and considered the vote on each agenda item nos. 4 through 6 inclusive. The recommendations were individually discussed but acted upon at one time. (The record of board action appears at the end of each item.)

Award of Certified Public Accountant Certificates

(4) The Committee on Accountancy recommends that the certificate of certified public accountant be awarded under Section 5 of the Illinois Public Accounting Act of 1983 to eight candidates who have presented evidence that they are holders of valid and unrevoked certified public accountant certificates obtained by passing the uniform written examination in another state or territory of the United States and who qualify in all other respects under this provision of the law. The names of the candidates are filed with the secretary. I concur in this recommendation.

On motion of Mr. Howard, these certificates were awarded.

Amendment, University Rules and Regulations Governing the C.P.A. Examination

(5) In April 1983 and March 1984, the trustees approved recommendations from the University Committee on Accountancy increasing the C.P.A. examination fees. It was pointed out at that time that rising administrative costs were no longer being offset by an increasing number of candidates. In fact, since November 1983, the number taking the examination has dropped by approximately 2 percent a year. Recently, the Director of Examinations of the American Institute of Certified Public Accountants notified the Committee on Accountancy of an increase of $2.50 per paper (approximately $75,000 annually) for preparation and grading costs for the Uniform C.P.A. Examination, effective with the November 1985 examination. In addition to this increase, since the May 1983 examination it has been necessary to pay the May grading charges in installments •—• utilizing, in part, fee collections during the subsequent year. For the above reasons, the University Committee on Accountancy has recommended that Sections 1300.60, 1300.160, and 1300.170 be amended as indicated in the following,1 effective for the November 1985 C.P.A. examinations. It is anticipated these increases will provide sufficient revenue to administer the program through Fiscal Year 1987. I concur. 1. Section 1300.60(a) be amended to read: Section 1300.60 Filing of the Application and Payment of Fees (a) Applicants for the examinations for the C.P.A. certificate under the Act shall file their applications with the Committee on Accountancy at Urbana, Illinois, together with official transcripts of academic records to establish their eligibility. T h e proper fee established by the University as authorized in Section 6 of the Act must accompany each application for examination, re-examination, reciprocity and transfer of examination grades. The schedule of fees shall be as follows: (1) Candidate writing for the first time [$125.00] $160.00 (2) Candidate transferring conditional credit from another jurisdiction.. [$125.00] $160.00 (3) Candidate for re-examination in all subjects [$ 85.00] $125.00 (4) Candidate writing three half-day sessions [$ 75.00] $100.00

1

New material is in italics; deleted material is in brackets.