A pair of Illinois representatives have introduced legislation supported by the Illinois CPA Society to create two additional pathways to CPA licensure and practice mobility in the state to alleviate the accountant shortage.

The Illinois Public Accounting Act and Uniform Accountancy Act currently require Illinois CPA candidates to pass all portions of the CPA exam, complete 150 credit hours of qualifying education, and gain one year of relevant work experience to become licensed in the state. The structure has remained in place since 2001, and the Illinois CPA Society believes it no longer supports the profession’s current and future workforce.

For over a year, ICPAS has been reviewing licensure pathway proposals and exploring options to eliminate barriers to entry into the CPA profession, working closely with the Illinois Board of Examiners and the Illinois Department of Financial and Professional Regulation to draft legislation to evolve the state’s CPA licensure model.

Two Illinois lawmakers who are also CPAs, Rep. Natalie Manley, D-Joliet, and Amy Elik, R-Edwardsville, now plan to introduce House Bill 2459, which amends the Illinois Public Accounting Act to create two additional pathways to CPA licensure in Illinois and enhance CPA practice privilege mobility. The new pathways include:

1. Obtaining a bachelor’s degree with 120 credit hours of qualifying education (including a concentration in accounting), completing at least two years of relevant work experience, and passing the CPA exam; and,
2. Obtaining a master’s degree, obtaining a bachelor’s degree with 30 hours of concentration in accounting, completing at least one year of relevant work experience, and passing the CPA exam.

“To be clear, HB 2459 will not alter the state’s existing route to licensure. Instead, this legislation establishes two additional pathways to obtain a CPA license in Illinois,” said ICPAS president and CEO Geoffrey Brown in a statement. “Similar new pathways to licensure are also being explored or pursued legislatively in many of our neighboring states, including Michigan, Missouri and Wisconsin.”

HB 2459 also would set new requirements for out-of-state CPAs when it comes to practice privilege mobility. The bill would ensure out-of-state CPAs could continue to serve clients in Illinois without needing to get an Illinois license if their issuing state’s licensure requirements are equivalent to Illinois’ requirements. The bill also would ensure Illinois CPAs would have the same practice privileges outside the state. While the existing mobility structure appears to be changing nationwide, ICPAS believes Illinois’ alignment with a significant number of states would largely reduce any threats to Illinois-licensed CPAs’ practice privileges and keep Illinois CPAs in the national business landscape.

Scholarship applications

Separately on Monday, ICPAS also opened its scholarship application window in conjunction with its charitable partner, the CPA Endowment Fund of Illinois, for the 2025-2026 academic year. More than 40 tuition scholarships, ranging from $1,000 to $4,000 each, will be awarded to eligible upperclassmen accounting students.

Eligible applicants include accounting students attending Illinois colleges or universities who demonstrate financial need, academic excellence and leadership qualities.

With just one application, students will automatically be considered for all scholarships they qualify for. The application deadline for the following scholarships is April 1, 2025:

• Illinois CPA Society Accounting Scholarships for seniors and graduate students;
• Herman J. Neal Accounting Scholarships for Black or African American juniors, seniors and graduate students;
• James A. Sikich Visionary Scholarships for seniors and graduate students; and,
• Women’s Executive Committee Advancing Women in Accounting Scholarships for female seniors and graduate students.

President Donald Trump agreed to delay 25% tariffs against Mexico for one month after a conversation with his counterpart Claudia Sheinbaum on Monday, a dramatic turnabout with the neighboring nations on the brink of a trade war.

Markets rallied after Sheinbaum announced the delay and Trump confirmed it in a social media post, with the peso gaining as much as 1.3% against the dollar. The pair of leaders agreed that Mexico would send 10,000 National Guard officers to the border to help stem the flow of fentanyl and migration into the US, a key demand from Trump for it to avoid tariffs.

Trump told reporters on Monday he had a “great talk” with Sheinbaum and said he likes her “very much” but reaffirmed the tariff pause was temporary and would be contingent on Mexico taking steps to stop the flow of fentanyl and migrants to the U.S.  

“We’ve agreed to talk and consider various other things. We haven’t agreed on tariffs yet, and maybe we will, maybe we won’t, but we have a very good relationship,” the president said in the Oval Office. 

The delay with Mexico bolsters the view that Trump sees tariffs as a negotiating ploy but is still reluctant to inflict economic pain on Americans, while buying Sheinbaum time to show that she is a partner for the U.S. rather than an adversary. 

The two nations will continue negotiations over the tariffs over the next month, according to both leaders, with Sheinbaum saying at a Monday press conference that she and Trump agreed to speak frequently. As part of the deal, the U.S. also pledged to work to prevent the trafficking of high-powered weapons into Mexico, she said at the press conference.

The talks will be “headed by Secretary of State Marco Rubio, Secretary of Treasury Scott Bessent, and Secretary of Commerce Howard Lutnick, and high-level Representatives of Mexico,” Trump said in his social media post.

It remains unclear whether Canada, which is also facing the threat of 25% tariffs on most goods, will be able to reach a similar deal with Washington. Trump and Canadian Prime Minister Justin Trudeau spoke by phone Monday morning and are scheduled to hold another call in the afternoon. The U.S. president said he pressed the Canadian leader about American banks’ ability to do business in its northern neighbor.

“We had a good talk,” Trump said. “Canada is very tough. They’re very, very tough to do business with, and we can’t let them take advantage of the U.S.”

He also repeated his assertion that Canada should become the 51st U.S. state but conceded, “some people say that would be a long shot.”

Sheinbaum said that she has also been in contact with Trudeau and would continue speaking with Canada. 

Trump also said he would “probably” be speaking to Chinese officials in the next 24 hours about his threat to impose a 10% tariff. 

“That was just an opening salvo. If we can’t make a deal with China, then the tariffs will be very, very substantial,” the U.S. president said. 

Sheinbaum took office in October facing questions about how she would fill the shoes of her popular predecessor, Andres Manuel Lopez Obrador, who boasted about his good relationship with Trump. But the early victory suggests she’s a skilled negotiator, with a “cool-headed” approach that focuses on specific details rather than Trump’s rhetoric.

“Mexico’s efforts in collaborating with the U.S. seems to have paid off for now,” said Dan Pan, an economist at Standard Chartered Bank. “The uncertainty still remains on which the direction of negotiation will take and if Mexico can avert the tariffs permanently, but for now the market has taken comfort of the delay as an indication that Trump is using the tariff threats as a negotiation strategy rather than jeopardizing the North American economy.”

After Trump ordered 25% tariffs on exports from Mexico on Saturday, Sheinbaum said she would ask her economy minister to respond with tariff and non-tariff measures, without elaborating. She said Monday that Mexico would put those measures on hold in an effort to provide certainty to financial markets, and reiterated her commitment to the USMCA free trade agreement between the U.S., Mexico and Canada.

“Most in the market were looking for this sort of ‘deal’ to occur in order to avoid tariff implementation, similar to what we saw in Trump 1.0 between the U.S. and Mexico,” said Brad Bechtel, head of FX at Jefferies. “Tariff risk for Mexico avoided for now, at least for one month. Most assume the same for Canada but we need to wait and hear officially. Canada already announced counter measures and their government is somewhat in chaos so it may not happen as quickly as it did for Mexico.”

BPM LLP, a Top 50 Firm based in San Francisco, has created an international network of independent firms that it’s calling BPM Global Ltd.

The firm, formerly known as Burr Pilger Mayer, launched the network Monday with its first network member firm, Enspira Financial, with offices in Sydney and Melbourne, Australia. Enspira offers accounting, audit, tax and consulting services to clients in different industry sectors, including construction, professional services, not-for-profits, financial licensees and foreign subsidiaries. Enspira will remain a separate entity but will operate under the BPM Global Network brand.

“By creating this network, we’re redefining our global brand identity,” said BPM Global CEO Jim Wallace in a statement Monday. “Enspira’s cultural alignment and commitment to people mirrors that of BPM, our founding member. We could not be more thrilled to welcome Enspira as our first network member.”

BPM and Enspira are also members of Allinial Global, an association of legally independent accounting and consulting firms whose members collaborate to bring their clients best-in-class solutions. Both BPM and Enspira plan to continue their membership in Allinial Global, where Wallace is currently global executive committee board chair. The new president and CEO of the AICPA & CIMA, Mark Koziel, was formerly president and CEO of Allinial Global.

“We are honored to join the BPM Global Network as its first member,” said Enspira CEO Sook Smith in a statement. “Through our membership of BPM Global Ltd, we’re excited to provide our clients with augmented international support while expanding our global brand.”