Maine CPA Exam and License Requirements

Publication Date :

14 May, 2023

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Maine CPA Exam

Maine CPA (Certified Public Accountant) License is the highest credential in the field of accounting in the Pine Tree State. Maine’s Board of Accountancy (BOA) specifies a set of exam, experience, and other CPA license requirements for licensure. The state provides abundant job opportunities for licensed accounting professionals as finance is recognized as one of its largest industries.

The state pursues the one-tier licensing approach. Hence, there is no separate CPA Certificate. Instead, candidates are certified and licensed at once after completing the necessary prerequisites. The state also undertakes the administration of the CPA exam internationally.

Let’s take a detailed look at the Maine CPA exam and license requirements.

Particulars	Licensure Details
Licensing System	1-tier
Licensing Authority	Maine Board of Accountancy
Minimum Age Requirement	None
U.S. Citizenship Requirement	Not Required
Minnesota Residency Requirement	Not Required
Social Security Number Requirement	Not Required
Education Requirement (for CPA license)	150 semester hours with a bachelor’s degree
Education Requirement (for CPA Exam)	A baccalaureate degree with 120 semester hours
Exam Requirement	Score a minimum of 75 points in each of the four exam sections
Experience	2 years
Ethics Exam	None

Contents

Maine CPA Exam Requirements

Eligibility Requirements
Fees
Required Documents

Maine CPA License Requirements

Education Requirements
Exam Requirements
Experience Requirements

Continuing Professional Education (CPE)

Maine Exam Information & Resources

Maine CPA Exam Requirements

The computer-based CPA Exam is comprised of four sections, each four-hour long. Each has a passing grade of a minimum of 75 points on a scale of 0-99. The professional examination scrutinizes a candidate's proficiency and readiness to perform as a CPA.

Maine exam applicants must conclude the test within 18 months. It starts from the testing date of their first passed section. The American Institute of Certified Public Accountants (AICPA) coordinates with the National Association of State Boards of Accountancy (NASBA) and state boards to conduct the examination at designated Prometric testing centers.

The exam format involves five testlets with three question types. All four sections comprise Multiple-choice Questions (MCQs) and Task-based Simulations (TBSs). While BEC also covers Written Communication Tasks (WCTs).

Regulation (REG Section)
Financial Accounting & Reporting (FAR Section)
Auditing & Attestation (AUD Section)
Business Environment & Concepts (BEC Section)

Eligibility Requirements

General Requisites

Good reputation and character

Educational Requisites

At least a baccalaureate degree from a regionally authorized academic institution acceptable to the board with:

Minimum 120 semester hours of college-level education
At least 15 semester hours in one or more of the following topics:
- Financial Accounting & Reporting for Business Organizations
- Auditing & Attestation Services
- Financial Accounting & Reporting for Government & Not-for-profit Entities
- Managerial or Cost Accounting
- Fraud Examination
- Financial Statement Analysis
- Taxation
- Internal Controls & Risk Assessment
- Accounting Research & Analysis
- Accounting Information Systems
- Tax Research & Analysis
- Ethics relevant to the practice of public accounting
Minimum 3 semester hours in auditing and attestation services

Apply for the exam through CPA Examination Services (CPAES) with the associated fees and documents. Refer to the NASBA portal for the complete process.

Here lies the deadline to fulfill the requirements:

Particulars	Deadline
Educational Requirements (except Accounting & Auditing courses)	Within 120 days of attempting the first exam section
Accounting & Auditing courses	At the time of application
Required Documentation (if requirements are met)	CPAES must receive it within 45 days of submitting the application

Candidates may also request NASBA Advisory Evaluation to spot any academic inadequacies in the education before the final submission.

Fees

Let’s check out the fee structure.

Particulars	Examination Fees	First-time Applicant Fees	Re-exam Applicant Fees
Application Fee	-	$170	-
Registration Fee	-	-	$85
Exam sections	-	-	-
AUD	$238.15	-	-
BEC	$238.15	-	-
FAR	$238.15	-	-
REG	$23815	$952.6	$952.6
Total Fees	$952.6	$1,122.6	$1,037.6

Maine offers no clause to withdraw from the exam or request the current Notice-to-Schedule (NTS) extension. Only critical situations are an exception to request an NTS extension or receive a limited examination fees rebate.

Please note that both examination fees and application fees are non-refundable. From the date of their NTS, candidates have six months to attempt the applied exam section(s).

Required Documents

Submit the below-mentioned documents separately or along with the application.

Particulars	Submission
General Requirements	-
Official school transcript(s) (maybe submitted electronically)	Academic Institution
Notarization Form	Applicant
Photo Form	Applicant
Three Reference Letters	Applicant or Reference
Special Cases	-
Certificate of Enrollment	Applicant or Academic Institution
International Evaluation Summary (with international transcripts)	An applicant or NASBA International Evaluation Services (NIES) or Foreign Academic Credentials Service, Inc.
Testing Accommodations Request Form	Applicant

Note that reference letters may be provided by persons unrelated to the applicant. Only one of the letters may be submitted by an instructor or employer. Also, know that CPAES does not accept photocopies of transcripts or evaluations and considers them unofficial.

Maine CPA License Requirements

The Maine state board issues the CPA License to professionals who meet the following qualifications:

Good moral character
Earn 150 semester hours of education
Pass each of the four CPA Exam sections with at least 75 points
Gain two years of relevant work experience

CPA aspirants must file the licensure application with the Maine BOA. Ensure to attach the required fees and work experience verification form. Further details are specified in the state board’s official portal.

Please note that the U.S. jurisdiction also conducts a criminal background check on the applicants. The table below outlines the applicable fees.

Fees	Amount
License fee	$35
Criminal background check fee	$21
Annual license renewal fees	$35

Education Requirements

You must gain 150 semester hours with at least a four-year baccalaureate degree from the state board-acceptable college or university, including basic courses in accounting and auditing.

The initial 120 semester hours are the pre-requisite to sit for the CPA exam. Hence, the remaining 30 semester hours are required for licensure.

Exam Requirements

Maine CPA licensure applicants must pass the Uniform CPA Exam within the rolling 18-month period. The passing grade for each of the four exam sections is 75 points. For more information, kindly check the Maine Exam Requirements section.

Experience Requirements

Here lie the experience requirements.

Particulars	Details
Required Work Experience	2 years
Experience Supervision	Under the direction of an active CPA
Qualifying Skills	Accounting or auditing skills
Qualifying Area	Licensed public accounting firm
Scope of Experience	Apply accounting or auditing skills involving financial reports issuance & any one of the following:
Provision of management advisory
Financial Advisory or consulting services
Furnishing of Advice on tax matters
Preparation of tax returns
Equivalent activities (defined by the Maine Board Statute)

Continuing Professional Education (CPE)

You must renew the Maine CPA License annually after reporting 40 CPE credit hours. You can obtain the required hours through programs offered by the NASBA National Registry of Sponsors.

Let’s view all the details here.

Particulars	Details
License Renewal Date	September 30 (Annually)
CPE Reporting Period	October 1-September 30 (Annually)
Required CPE hours	40 hours
Ethics Requirement	4 hours in every three years
Credit Calculation	Instruction	Credit = 3 times presentation
No credit for preparation
Partial Credit	Half credits are acceptable after the first hour
Credit Limitations	Instruction	Maximum 50% of total hours
Non-technical Subjects	Maximum 50% of total hours
Published Materials	Maximum 50% of total hours
Fields of Study	Limitations on specific subject areas
Other State Policies	Carryover	Maximum 20 hours
Can’t be used for Ethics Requirements

This esteemed title offers the opportunity to kick-start your career in varied fields. For example, you may work in entertainment, criminal investigation, technology, travel, environment, and several other sectors.

With no minimum age, citizenship, residency, or social security number requirement, it is easy to avail of the license in Maine. Also, the state has relatively simple CPE requirements to sustain the license.

So, gear up for the Maine CPA Exam as soon as you graduate to save time and fulfill all the other license requirements to join the league of esteemed professionals! To learn more, do have a look at CPE credits for CPA