Maine CPE Requirements for CPAs
Many accrediting organizations which license business professionals require their members to participate in continuing professional education, because doing so lays a foundation for each person to remain knowledgeable about their craft and keep fresh on any changes in their given industry. One such organization, the American Institute of Certified Public Accountants (AICPA), has a general overarching requirement that its members must complete 120 hours of CPE every three years. However, the specifics of accomplishing that goal differ from state to state, because the actual regulations for each state or territory is set by a Board of Accountancy local to that jurisdiction. So, if CPAs aren’t familiar with their state requirements, the recertification process can become quite frustrating.
The Maine Board of Accountancy requires members of the CPA within its jurisdiction to renew their license every year, and they must complete 40 hours of continuing professional education during that time. The table below describes the primary details of license recertification for CPAs in Maine.
|License Renewal Date||CPE Reporting Period||Total CPE Hours||Self-Study Credit Limitations|
|September 30 annually||October 1 – September 30 annually||40 hours||None|
Subject Area Requirements
Every three years, Maine licensees must complete 4 hours of continuing professional education in Professional Ethics. There are no further subject area requirements.
Credit Limitations and Calculation
Up to 50% of the required credit amount per recertification can be earned through formal instruction or presentation, where credit is equal to three times presentation length. No credit is offered for preparation, and repeat instruction of the same course will only be accepted so long as the material has been substantially altered or changed.
For non-technical subjects, courses in the following areas are limited to 50% of the total required hours: communication arts, mathematics, statistics, probability and quantitative applications in business, economics, business securities and administrative law, human resources policies, and computer software applications.
Authorship and publishing CPE credit can be obtained, so long as the material is instructional or educational. This type is limited to 50% of the total required hours per recertification period.
Credits can be obtained in half-hour increments so long as the first full hour has been earned.
There are no stated requirements or limitations for self-study course credit.
Other Policies and Exemptions
A maximum of 20 credit hours may be carried from one reporting period to the subsequent reporting period. Carried hours cannot be used to meet the ethics requirement.
Exemption from the continuing professional education requirements are provided for CPAs in the following categories if the individual licensees don’t offer any of their services:
- Retired Licensees
- Currently unemployed licensees
- Licensees who have temporarily left the workforce
- Licensees who have officially listed their CPA status as “inactive”
Further exemptions can be requested upon the following bases:
- Health issues
- Military duty or active service
- Extreme natural disaster
- Similar circumstances which warrant exemption (approved by the Board)
Additional CPE Resources for CPAs
Article written by Braden Norwood