Repository: UIHistories Project: Board of Trustees Minutes - 1950 [PAGE 326]

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UNIVERSITY OF ILLINOIS

323

other states on the basis of having passed the written examination. They have also presented evidence to the Committee that they satisfy the other provisions of Section 5:

DUANE HOWARD CALHOUN ( T e n n . ) EDWARD EVERETT LANPHERE ( N e b . ) HAROLD ROBERT PRICE ( P a . ) J O H N RASQUI, J R . ( O h i o ) PERCY M I L E S TAYLOR ( N . H . ) WEBSTER RUSSELL V A U S E ( D . C . )

I concur.

On motion of Mrs. Holt, these certificates were awarded as recommended.

AMENDMENT OF REGULATIONS GOVERNING ADMINISTRATION O F THE LAW RELATING T O CERTIFIED PUBLIC ACCOUNTANTS (6) Under an act of the General Assembly of Illinois passed in 1943 superseding the original Accountancy Act of 1903 and the Public Accounting Act of 1927, the University continues to have the responsibility of examining applicants for certificates of Certified Public Accountant. Certificates to successful candidates a r e issued in the name of the Board of Trustees. To carry out the provisions of the law the Board of Trustees appoints a board of three examiners to prepare, conduct, and grade examinations. Also, as a new provision of the Act of 1943, the University, with the approval of the Department of Registration and Education (which formerly administered the Public Accounting Act of 1927), has appointed a special board of five examiners to pass upon the qualifications and examine applicants for the C.P.A. certificate with ten years of experience who hold certificates of registration as Public Accountants in Illinois by waiver or oral examinations under the Act of 1927. A Committee on Accountancy, appointed by the President of the University from the faculty, passes upon applicants for the Illinois C.P.A. certificate who hold C.P.A. certificates from other states or who possess the Illinois P.A. certificate under the Act of 1927 on the basis of a written examination. The Committee serves in other ways as the President's agent in administering the Accountancy Act. The Board of Trustees has established regulations for the administration of the Act. Each applicant for the C.P.A. certificate by written examination is required to pass examinations in the Theory of Accounts, Commercial Law, Auditing, and Practical Accounting. The Committee on Accountancy has been discussing with the Board of E x aminers in Accountancy and with the Board of Directors of the Illinois Society of Certified Public Accountants a modification of one of the rules (Rule 33) which has provided for one re-examination in subjects failed in a candidate's original examination provided his grades were not below 60 per cent. The Directors of the Illinois Society of Certified Public Accountants believe that the rules should be liberalized by giving the candidate additional opportunities to remove failures in his original examination. T h e Committee on Accountancy recommends that Rule 33 be amended to read as follows (language to be deleted in italics): "A candidate who passes in Theory of Accounts and Practical Accounting, 1 and fails in one or both of the other examination subjects (Auditing and L a w ) , with a grade not lower than 60 in the subject or subjects failed, or a candidate who passes in Auditing and Law and fails in Theory of Accounts and Practical Accounting,1 with a grade not lower than 60, shall be credited with the subject or subjects in which he has received passing grades and may upon application and payment of the required examination fees present himself for re-examination in the subject or subjects in which he failed at any three of the six semi-annual examinations next succeeding the examination at which he qualifies for such partial re-examination. Whenever a candidate presents himself for re-examination he must write on all subjects in which he then has failing grades. "If on re-examinations, the candidate passes in the subjects in which he has faded, he shall be eligible for the C.P.A. certificate; if he fails to do so, he shall revert to the status of a new applicant who is required to write the entire examination. 3 The examination in Theory of Accounts and the two sessions of the examination in • tical Accounting are considered as one subject in administering this rule.