Maine CPA Requirements: A Comprehensive Guide
Maine offers a streamlined path to becoming a Certified Public Accountant (CPA), with clear educational, experiential, and examination requirements. Here’s a detailed overview of what you need to know to achieve CPA licensure in Maine:
Education and License Requirements
Education Requirements for CPA Exam:
Degree: Baccalaureate or higher degree.
Credit Hours: 120 semester hours (with the option to take the exam 120 days before meeting this requirement).
Coursework: Minimum of 15 semester hours in accounting, auditing, and ethics, including 3 hours in auditing and attestation services.
Education Requirements for CPA License:
Credit Hours: Total of 150 semester hours.
Age, Citizenship, and Residency:
Minimum Age: None.
Citizenship: U.S. citizenship not required.
Residency: No residency requirement in Maine.
Social Security Number: Required for CPA licensure in Maine.
Work Experience
Duration: Two years of qualifying work experience.
Supervision: Must be under the direction of a licensed CPA.
Types of Work: Inclusive of accounting or auditing skills and various advisory or consulting services.
International CPA Examination Program
Participation: Maine actively participates, allowing international candidates to take the CPA Exam.
Credential Evaluation: Required for non-U.S. education, conducted by NASBA or FACS.
CPA Exam & Licensing Costs in Maine
Initial Application Fee: $170.
Exam Fees (per section): $238.15.
Total Initial Cost: Approximately $1,123.
License Application Fee: $56 (including the criminal background check fee).
**Re-examination Fees**: $238.15 per section plus a registration fee of $85 if you need to retake a section.
CPA License Renewal
Renewal Period: Annually by September 30.
Renewal Fee: $35, with a late fee of $50 for missed deadlines.
Continuing Education: 40 hours annually, specific requirements available on the Maine Accountancy Board website.
Late Renewal: If renewal is submitted more than 90 days after expiration, applicants must meet new applicant requirements.
Key Points to Remember
Good Moral Character: A standard requirement for licensure.
Ethics Exam: Not mandatory in Maine for CPA licensure.
Special Provisions: Character references may be required for initial applicants in certain cases.
This guide covers the primary steps and requirements for becoming a CPA in Maine. It’s crucial to stay updated with the Maine Accountancy Board for any changes or updates in requirements. If you have any further questions or need assistance with other aspects of becoming a CPA, feel free to ask!
