All licenses expire annually on September 30th. In order to renew, the Board requires all licensees to obtain 40 hours of CPE annually and 120 hours of CPE every three years, due at time of renewal. The annual period for measurement of CPE shall be the twelve month period beginning on October 1 and ending on September 30 of the following calendar year.
Credit for the following subject matters may not exceed 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. Areas other than these may be acceptable if the licensee can demonstrate to the Board that they contribute to the licensee’s professional competence.
All licensees must obtain at least 4 hours of CPE in professional ethics every three years. Acceptable CPE in ethics may include a program of study of the accountancy laws and rules of the State of Maine and the Code of Conduct, or equivalent standards of the Securities Exchange Commission, the AICPA, or similar regulatory agency or professional organization. The four-hour ethics requirement can be met by taking our Maine Ethics course or by taking any of our hour-appropriate general ethics courses. Follow the ethics link on our homepage to access our ethics courses.
Registrants may claim up to 100% of their required CPE for formal self-study programs.
Yes. Maine does not pre-approve continuing education programs or sponsors and they do not have sponsorship agreements. They will however accept courses from members of the National Association of State Boards of Accountancy (NASBA) Registry and QAS sponsor approval programs. As members of both programs, our courses are accepted for credit in Maine.
As a member of the NASBA Registry and QAS sponsor approval programs, we are required to conform to the measurement standards contained in the Statement on Standards of Continuing Professional Education (CPE) Programs developed jointly by NASBA and the AICPA. Under these Standards our credits are based upon 1 CPE credit for every 50-minutes of study time, as determined by the average test results of CPAs pre-testing the material prior to publication.
Department of Professional and Financial Regulation
Office of Licensing and Registration
#35 State House Station
Augusta, ME 04333-0035
Phone: (207) 624-8627
Fax: (207) 624-8637