Maine CPA requirements

This page serves as a resource for your state's CPA licensure requirements and is current as of December 2019. Always consult with your state or jurisdiction's board of accountancy for the most current information.

Degree requirements
bachelor’s degree or higher from a regionally accredited college or university

Minimum education requirements
150 semester hours including 15 semester hours in one or more of the topics listed below (at least 3 semester hours must be earned in auditing and attestation services):

  • financial accounting and reporting for business organizations
  • financial accounting and reporting for government and not-for-profit entities
  • auditing and attestation services
  • managerial or cost accounting
  • taxation
  • fraud examination
  • internal controls and risk assessment
  • financial statement analysis
  • accounting research and analysis
  • tax research and analysis
  • accounting information systems
  • ethics relevant to the practice of public accounting

Minimum experience requirements
Two years of experience under the direction of a certified public accountant
must include the use of accounting or auditing skills, including the issuance of reports, and at least one of the following:

  • the provision of management advisory
  • financial advisory or consulting services
  • the preparation of tax returns
  • the furnishing of advice on tax matters 
  • equivalent activities defined by the board

Renewals
October 1 to September 31; annual renewal

CPE
40 hours of CPE annually.

No more than 20 hours of excess CPE can be rolled over.

A person whose initial license is issued between August 1 and March 31 shall complete 20 hours of CPE during the licensee’s initial license term ending on September 30. A person whose initial license is issued between April 1 and July 31 need not complete any CPE during the licensee’s initial license term ending on September 30.

All licensees shall obtain at least 4 hours of CPE in professional ethics every three years, beginning with the date of first renewal. Acceptable CPE in ethics may include a program of study of the accountancy laws and rules of the State of Maine.

Acceptable CPE programs:

  • professional development programs of state and national professional accounting societies or institutes
  • accredited university or college credit or non-credit courses
  • formal correspondence or other individual study programs. Such programs must require registration and provide evidence of satisfactory completion.
  • formal organized in-firm education programs
  • meetings of the National Association of State Boards of Accountancy (NASBA)
  • other formal, organized educational programs

Programs which do not qualify:

  • CPA prep courses
  • committee service of professional organizations

Standards for CPE program development

  • The program must contribute to the professional competence of participants.
  • The program must be developed by persons qualified in the subject matter and in instructional design.
  • The program content must be current.
  • The program must be reviewed by a qualified person other than the preparer to ensure compliance with the above standards.

Acceptable subject matter:

  • accounting, auditing and ethics
  • specialized accounting areas of industry
  • administrative practices
  • taxation
  • management services

Credit for the following subject matters may not exceed 50% of the required hours:

  • communication arts
  • mathematics, statistics, probability and quantitative applications in business
  • economics
  • business, securities and administrative law
  • human resources policies
  • computer software applications

Sources:

Education, experience, CPE, renewals, Main Practice of Public Accountancy statues and laws