Maine CPA Exam

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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 examCPA ExamA Certified Public Accountant (CPA) is a US state board-issued license to practice the accounting professionread more internationally.   

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

Contents

Maine CPA Exam Requirements

  • Eligibility RequirementsFeesRequired Documents

Maine CPA License Requirements

  • Education RequirementsExam RequirementsExperience 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 SectionREG SectionREG CPA Exam (Regulation) exam section tests a candidate’s competency in applying the concepts of federal taxation, business law, and ethics. It is a four-hour exam with 15 minutes break.
  • read more)Financial Accounting & Reporting (FAR SectionFAR SectionThe Financial Accounting and Reporting (FAR) CPA Exam section tests a candidate’s competency in understanding and applying financial accounting and reporting standards.read more)Auditing & Attestation (AUD SectionAUD SectionThe Auditing and Attestation (AUD) CPA exam section tests your expertise in performing auditing, attestation, and other service engagements.read more) Business Environment & Concepts (BEC SectionBEC SectionThe BEC CPA Exam (Business Environment and Concepts) exam section evaluates your understanding of the general business environment and your duties and responsibilities as a CPA towards it. It assesses your ability to recognize and scrutinize situations related to Financial reporting, Financial statement audit and attestation and Tax preparation
  • read more)

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 educationAt least 15 semester hours in one or more of the following topics:Financial Accounting & Reporting for Business OrganizationsAuditing & Attestation ServicesFinancial Accounting & Reporting for Government & Not-for-profit EntitiesManagerial or Cost AccountingFraud ExaminationFinancial Statement AnalysisTaxationInternal Controls & Risk AssessmentAccounting Research & AnalysisAccounting Information SystemsTax Research & AnalysisEthics relevant to the practice of public accountingMinimum 3 semester hours in auditing and attestation services

  • Financial Accounting & Reporting for Business OrganizationsAuditing & Attestation ServicesFinancial Accounting & Reporting for Government & Not-for-profit EntitiesManagerial or Cost AccountingFraud ExaminationFinancial Statement AnalysisTaxationInternal Controls & Risk AssessmentAccounting Research & AnalysisAccounting Information SystemsTax Research & AnalysisEthics relevant to the practice of public accounting

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: 

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.

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. 

Note that reference letters may be provided by persons not related to the applicant. Only one of the letters may be submitted by an instructor or employer. Also, know that CPAES does not accept the 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 characterEarn 150 semester hours of educationPass each of the four CPA Exam sectionsCPA Exam SectionsThe Uniform Certified Public Accountant (CPA) Exam comprises four sections, namely, Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG). The unique content, structure, format, and scoring of the CPA exam earn it the title of one of the most challenging professional exams.
  • read more with at least 75 pointsGain 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.

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. 

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.

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 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 CPACPE Credits For CPAAs a Certified Public Accountant (CPA), you need to acquire Continuing Professional Education or CPE credits for sustaining your license. This ensures that you are actively involved in improving your know-how of the profession by engaging in learning activities.read more

Maine Exam Information & Resources

  1. Maine Society of CPA

Mailing address:

Patricia Brigham, Executive Director

Maine Society of CPAsPO Box 17735Portland, Maine 04112-8735

Ph: 207.761.0925

Email: [email protected]

  1. Maine Board of Accountancy (https://www.maine.gov/pfr/professionallicensing/)

Department of Professional & Financial Regulation35 State House StationAugusta, Maine 04333

Ph: (207) 624-8500Fax: (207) 624-8690

  1. NASBA (https://nasba.org/)

150 Fourth Ave. North

Suite 700

Nashville, TN 37219-2417

Ph: 615-880-4200

Fax: 615-880-4290

CPAES

800-CPA-EXAM (800-272-3926)International: 615-880-4250[email protected]

  1. AICPA (https://www.aicpa.org/)

Phone number: 888.777.7077

220 Leigh Farm Road

Durham, NC 27707-8110

Fax server: 800.362.5066

A Guide to Maine CPA Exam & License Requirements. Here we discuss all prerequisites to the Maine CPA exam and license. You may also have a look at the below articles to compare CPA with other examinations –

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