Repository: UIHistories Project: Board of Trustees Minutes - 1958 [PAGE 522]

EXTRACTED TEXT FROM PAGE:

1957]

UNIVERSITY OF ILLINOIS

519

Chicago, in March, June, August, and December, to which applicants for the C.P.A. examination may be admitted upon the payment of a fee of $5.00 for each examination giving one unit* of high school credit and $5.00 to $6.00 for each college subject. 18. A candidate seeking to meet the preliminary education requirement in part or in whole by these examinations should first submit to the Secretary of the University Committee official credentials covering his formal education above the eighth grade. These will be evaluated and a program of examinations necessary to complete the preliminary education requirements will be outlined for him. The Committee can not accept as satisfactory evidence of educational attainments statements from private tutors or certificates of examinations conducted by private individuals or by school officials acting in a private capacity. Neither is the Committee authorized to accept business experience or life experience of any kind in lieu of the educational requirements specified in the Act. Examinations 19. Examinations as prescribed in the Act shall be held by the respective Boards of Examiners at the times and places determined by the University Committee. The time and place of holding examinations shall be advertised, for not less than three consecutive days in one daily paper 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. 20. Examinations shall take place as often as may be deemed necessary by the University Committee, but not less frequently than once each year. 21. The examination shall be in the subjects prescribed in the Act. 22. The time allotted to the examination in each subject shall be determined by the University Committee, on the advice of the appropriate Board of Examiners, and shall be printed on the examination questions. 23. The Board of Examiners shall establish and maintain a uniform procedure for the preparation and grading of examinations to be given to candidates for certificates as Certified Public Accountants, and for this purpose may employ the services and assistance of any persons or organizations skilled in the subjects on which the examinations are given, such as the services and facilities of the American Institute of Accountants, upon such conditions and rules relative to the use of such services as may be prescribed from time to time by the University Committee on Accountancy, provided, however, that all examinations given by said Board shall be adopted and approved by the Board and that the grade or grades given to all persons taking said examinations shall be determined and approved by the Board. 24. The examination papers shall be graded on the scale of 100. The passing grade in each subject is 75. Grades shall be certified by the respective Boards of Examiners to the University Committee. The list of successful candidates shall be certified to the President of the University by the University Committee. 25. A candidate under Section 2 of the Act who passes in Theory of Accounts and Practical Accountingf and fails in one or both of the other examination subjects, Auditing and Law, 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^ 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 (see note below) 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 qualified 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-examination, the candidate passes in the subjects in which he has failed, he shall be eligible for the C.P.A. certificate; if he fails to do so, he • By the word "unit" is meant the amount of ground ordinarily covered in any single subject in one year of work in a standard high school. t The examination in Theory of Accounts and the two sessions of the examination in Practical Accounting are considered as one subject in administering this rule.