Illinois accountant employment contract template

Illinois Accountant Employment Contract

This Illinois Accountant Employment Contract ("Agreement") is made and entered into as of [Date], by and between [Employer Legal Name], a [State of Incorporation] corporation with its principal place of business at [Employer Address] ("Employer"), and [Employee Full Legal Name], residing at [Employee Address] ("Employee").

1. Employment

• Option A: Employer hereby employs Employee as a [Accountant Title, e.g., Staff Accountant, Senior Tax Accountant].
• Option B: Employee accepts such employment and agrees to perform the duties outlined below.

2. Job Duties

Employee shall perform the following duties:

• Preparing, examining, and analyzing accounting records and financial statements in accordance with Generally Accepted Accounting Principles (GAAP).
• Ensuring compliance with Illinois-specific tax codes and federal tax regulations.
• Preparing and filing Illinois and federal tax documents.
• Handling payroll accounting and employee withholding per Illinois tax requirements.
• Maintaining accurate account records and conducting periodic audits.
• Reconciling accounts and processing accounts payable/receivable.
• Preparing budgets and financial forecasts.
• Providing financial advice to management.
• Compliance reporting.
• Other duties as assigned by [Reporting Manager Title].

3. Required Skills and Software

Employee must possess proficiency in the following:

• Software: [List Software, e.g., QuickBooks, Oracle, Excel, Tax Preparation Software]
• Accounting Systems: [List Accounting Systems]
• Technical Tools: [List Technical Tools]
• Expectations for Continuing Professional Education (CPE) to comply with Illinois Certified Public Accountant (CPA) licensure maintenance when applicable.

4. Reporting Structure

Employee shall report directly to [Reporting Manager Title]. Employee is expected to collaborate with other departments. Employee must adhere to the American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct and Illinois Department of Financial and Professional Regulation (IDFPR) requirements.

5. Work Location

• Option A: Employee's primary work location is [Work Location Address], Illinois.
• Option B: Remote/Hybrid Work Arrangement: [Specify Details of Remote/Hybrid Arrangement]. Data privacy, security, and Illinois-specific records retention rules apply.

6. Work Hours

• Employment is full-time, with standard weekly work hours of [Number] hours per week.
• Break requirements will be in accordance with Illinois law.
• Overtime eligibility and rules are in accordance with the Illinois Minimum Wage Law.

7. Compensation

• Option A: Annual Salary: [Dollar Amount], payable [Frequency, e.g., bi-weekly].
• Option B: Hourly Wage: [Dollar Amount] per hour, payable [Frequency, e.g., bi-weekly].
  • Pay will be delivered via [Method, e.g., direct deposit]. Adherence to Illinois equal pay laws. Classification: [Exempt/Non-Exempt].

8. Performance Reviews & Bonuses

• Performance reviews will be conducted [Frequency, e.g., annually].
• Eligibility for merit increases and bonuses will be determined based on performance.
• Option A: Bonus for Audit/Tax Season Workloads: [Specify Details]
• Option B: Incentive Compensation: [Specify Details]
• Option C: Profit-Sharing: [Specify Details]

9. Benefits

Employee is eligible for the following benefits:

• Health, dental, and vision insurance.
• Retirement plans (401(k) and any Illinois Secure Choice program compliance).
• Paid vacation and sick leave pursuant to the Illinois Paid Leave for All Workers Act.
• State and federal holidays.
• Paid parental leave.
• Professional membership fee and CPE/certification reimbursement.
• Transportation or parking allowances for Illinois-based worksites.
• Disability and workers’ compensation coverage as mandated by Illinois statutes.

10. Ownership of Work Product

All work output, financial reports, account analysis, client lists, and proprietary processes created or accessed during employment belong to Employer. Protection under the Illinois Trade Secrets Act applies. Secure data storage and destruction upon termination is required.

11. Confidentiality

Employee shall maintain strict confidentiality regarding client financial data, employer internal accounts, business strategies, and sensitive customer information. Compliance with the Illinois Personal Information Protection Act and AICPA privacy guidance is required. Confidentiality survives termination of this Agreement.

12. Outside Activities

Employee shall not engage in outside professional engagements, moonlighting, or freelance accounting/tax advisory without express written approval from Employer. Any potential conflicts of interest must be disclosed.

13. Compliance with Laws and Policies

Employee shall comply with all federal, state, and local laws, as well as Employer's policies and procedures, including codes of conduct specific to Illinois accountants. Mandatory reporting of unlawful financial practices.

14. Technology and Information Security

Employee shall adhere to Employer's technology and information security policies. PCI DSS compliance if handling payment data. Prohibitions on unapproved software/hardware.

15. Non-Solicitation and Non-Disclosure

Non-solicitation and non-disclosure clauses are enforceable under Illinois law. Post-employment non-compete provisions must comply with the Illinois Freedom to Work Act and be reasonable in geographic scope, duration, and scope, tailored to protect legitimate business interests.

16. At-Will Employment

Employment is at-will, unless expressly modified in writing. Requirements for advance notice of resignation or termination (if any). Severance pay, final pay delivery, and benefit continuation will be in accordance with Illinois law. Procedures for return of employer property and data.

17. Termination

• Option A: Termination for Cause: [Specify Reasons, e.g., misappropriation, fraud, breach of confidentiality].
• Option B: Voluntary Resignation: [Specify Notice Period, if any].
• Option C: Reductions-in-Force/Restructuring: Compliance with Illinois WARN Act triggers when applicable.

18. Non-Discrimination

Employer is an equal opportunity employer and prohibits discrimination and harassment based on race, color, sex, sexual orientation, gender identity, religion, national origin, age, disability, marital status, military status, pregnancy, or any other protected characteristic under the Illinois Human Rights Act. Internal reporting mechanisms for complaints are available.

19. Leave Rights

Employee is entitled to leave rights in accordance with Illinois law, including unpaid family and medical leave, blood donation leave, and military family leave.

20. Professional Liability

• Option A: Employer maintains Professional Liability/Errors & Omissions (E&O) insurance for accounting staff.
• Option B: [Specify Employee's Responsibility for Maintaining Coverage].

21. Workplace Safety

Employee shall adhere to workplace safety and health rules under the Illinois Occupational Safety and Health Act (IL OSHA).

22. Training

Employee shall participate in state-required anti-harassment and ethics training for accounting professionals in Illinois.

23. Governing Law and Dispute Resolution

This Agreement shall be governed by the laws of the State of Illinois. Venue for any legal disputes shall be in [County Name] County, Illinois. Internal grievance resolution, mediation, or arbitration is encouraged before litigation.

24. Workers' Compensation

Employee is covered by Illinois statutory workers’ compensation coverage.

25. Amendment

This Agreement may be amended only by a written instrument signed by both parties.

26. Acknowledgments

Employee acknowledges receipt of the Employer's employee handbook, code of conduct, internal control policies, and whistleblower protection notice as mandated by state law.

27. Specialization

The terms can be tailored for specialized fields (such as tax accounting, auditing, forensic accounting, or nonprofit accounting) as appropriate to the role and employer’s industry.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

[Employer Legal Name]

By: [Employer Representative Name]

Title: [Employer Representative Title]

[Employee Full Legal Name]

Signature: ____________________________