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Frequently Asked Questions Sheet on Your License |
Q: Where is the Maryland State Board of Public Accountancy? |
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A: State Board for Public Accountancy
500 N. Calvert Street, Room 308
Baltimore, Maryland 21202-3651
(410) 230-6258 |
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Q: I’m a new CPA. When do I have to begin reporting CPE? |
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A: For active licensees, 80 hours of CPE are to be reported on the second and succeeding license renewals (no CPE required for first renewal). For inactive status, no CPE is required.
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Q: How do I determine if a program qualifies for CPE credit?
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A: To qualify for CPE credit, a program must contribute directly to the
professional competence of a CPA. The MD State Board of Accountancy states the
CPE must meet the following criteria
1. It is principally not repeat material to the licensee
2. The knowledge gained form the course(s) must reasonably be directly usable by the participant to produce, as a practicing CPA, a service or product for a client.
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Q: Can I carry forward credits from one reporting period to the next?
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A: The law allows a maximum of 80 hours of group study CPE earned in excess of the 80 hour requirement to be carried over to the next licensing period. CPE hours earned through self study or teaching cannot be carried over.
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Q: Can I report hours for college courses or self study programs before I receive my final grade?
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A: No.
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Q: What is the reporting period for a MD CPA?
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A: Individual reporting deadlines as assigned. MD CPA’s are required to have 80 hours every two years with no annual minimum.
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Q: What is the ethic requirement for a MD CPA?
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A: Legislation was passed which states, any MD CPA who reports on or after October 1, 2006 must have four consecutive hours of Ethic education every two years.
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Q: What is the status of the “peer review” requirement for all MD CPA’s?
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A: The peer review legislation is effective as of October 1, 2005 however the regulations concerning the legislation are still being developed. Updates will be published in the FreeState Accountant newsletter.
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