Illinois CPA Experience Requirement — Stock Analysis

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    Topic
  • #203303
    tmclynn
    Participant

    I’ve passed the tests and the ethics exam in Illinois. I work in equity research at an investment bank analyzing the cost of freight transportation stocks. Would that qualify for the experience requirement? Or more generally, does anyone have any more specific knowledge on the experience requirement and banking/stock analysis? Am I able to explain myself or is the process objective? Thanks all.

    Here was all I could find on the Illinois site:

    One year of supervised experience in a position within government, industry, academia or public practice where you provide service or advice in:

    Accounting

    Attestation

    Management advisory

    Financial advisory

    Tax consultation or services

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  • #784192
    leglock
    Participant

    Its not objective at all. You can easily write a narrative that at a minimum cites your experience in the context of accounting. Literally use the word accounting in ur writing. Its Lmost like writing a bec essay. Does your research provide info for advisory purposes, if so use that buzz word too.

    Did you pull the requirement from the accounting act. I feel aS though there were other categories allowed.

    #784193
    tmclynn
    Participant

    Thanks leg lock. If this is the act you're referring to: https://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=1363&ChapterID=24, this is all they provide:
    “All persons who have received certificates as certified public accountants from the Board or who hereafter received registrations as registered CPAs from the Department who have had at least one year of full-time experience, or its equivalent, providing any type of service or advice involving the use of accounting, audit, management advisory, financial advisory, tax, consulting skills, or other attestation engagements which may be gained through employment in government, industry, academia, or public practice. “

    I guess I'll just have to submit the forms and wait and see. I'll be sure to be as specific as possible. We work w/ a lot financial accounting a bunch but just from a different angle.

    Thanks again.

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