The CPA exam award reimburses candidates approximately $750 for the National Association of State Boards of Accountancy fees and helps bridge the gap between the number of graduating accounting majors and new CPAs. The high cost of the CPA exam is often the last financial hurdle aspiring CPAs must overcome. These CPA candidates have achieved their 150 credit hour requirement, applied to sit for the exam and are often at the beginning stages of their job search.
Be a U.S. Citizen or Permanent U.S. Resident and be an Illinois Resident
- Not be reimbursed for CPA exam fees by an employer
- Maintain a current or final cumulative GPA of 3.0/4.0 or equivalent
- Have pre-approved status by Illinois Board of Examiners and agree to take at least one section within nine months of the date on the application approval letter from the Board of Examiners. Must not have completed all four sections of the exam, but may apply with a portion of the exam completed.
- Complete all four sections of the exam within 18 months of being approved to test by the Board of Examiners. If all four sections are not completed within 18 months, candidates may be asked to refund all, or a portion of the award based on number of sections completed.
REMINDER: It is strongly recommended that students complete the AICPA Code of Professional Conduct self-study ‘take-home’ exam prior to sitting for the CPA exam. This is not a requirement for applying for this award, however, as of January 1, 2005 all Illinois candidates in addition to passing all four parts of the CPA exam, are required to pass this separate exam before they will be certified.