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Maine.gov > PFR Home > Professional Licensing > List of Professions > Accountants >FAQ

Frequently Asked Questions - Certified Public Accountant licensees

Do I need to pass a test?

Yes. The CPA exam consists of four-parts:

  • Auditing and Attestation
  • Financial Accounting and Reporting
  • Regulation
  • Business Environment and Concepts

How do I apply to take the exam?

Click HERE to apply to sit for the CPA exam.

What are the education requirements to sit for the exam?

Must successfully complete a minimum 4-year baccalaureate or higher degree within 120 days following the examination to be eligible to take the examination.

What are the requirements to qualify for a Certificate and a License?

At least 150 semester hours of education, including a minimum 4-year baccalaureate or higher degree conferred by a college or university acceptable to the board, the total educational program to include basic courses in accounting and auditing. 15 credit hours is required in auditing, accounting and ethics with at least 3 credit hours in auditing. Ethics is not mandatory but can qualify as part of the mandatory 15 credit hours.

Two years public accounting work experience with at least 400 hours of work experience in audit, review and compilation and 200 hours obtained in advisory services.

Successful completion of the CPA exam.

What are the continuing education requirements?

40 hours of CPE annually, due at time of renewal. All licensees must obtain at least 4 hours of CPE in ethics every 3 years. Self-study programs may not exceed 20 hours per year. Click HERE to download the rules regarding CPE.

Substantial Equivalency?

Click HERE to see our Substantial Equivalency requirements.

If I am not licensed as a CPA, can I prepare tax returns?

Yes. You do not need to be licensed to prepare tax returns.

Is my application confidential?

No. With the exception of Social Security Number, all application information is public. Contact information provided to the Board is posted on our website.

 

If you cannot find the answer to your question, click HERE to send an e-mail message to the Board of Accountancy.

 

Last Updated: August 21, 2008