Individual CPA licenses are renewed annually by September 30. Licensees will be asked to verify the completion of their CPE. Sometime after September 30 each year, an individual may be chosen at random to provide additional certificates/documentation of their CPE. For more CPE information visit the Maine Board of Accountancy.
Maine CPE Details:
- 40 hours of CPE must be earned during the period October 1 through September 30.
- At least 4 hours of CPE in professional ethics must be earned every 3 years. For example, if you took a 4-hour ethics course in 2018, you will be required to complete another 4-hour ethics course in 2021.
- Soft Courses: The credit for such programs may not exceed 50% (20 hours) of the required 40 hours of annual CPE. If you are carrying forward excess CPE, the 50% rule is applied based on the hours actually credited for the year, including the carryover. No waivers to this 50% “soft course” maximum can be considered by the Board of Accountancy. “Soft” courses include:
- Communication Arts
- Mathematics, Statistics, Probability and Quantitative Applications in Business
- Business, Securities and Administrative Law
- Human Resources Policies
- Computer Software Applications
AICPA CPE Details:
Earn 120 hours of CPE every three years. Compliance is reported on the annual dues statement. Retired, unemployed, those who have temporarily left the workplace and/or place their license on inactive status with the State Board of Accountancy AND do not hold themselves out as CPAs are exempt. Consult the AICPA website.
General Accounting Office (GAO) CPE Details:
Earn a minimum of 20 hours annually, 80 hours biannually with 24 hours in governmental subjects for certain staff members. Consult the Yellow Book for reporting requirements.