PPP Loan Forgiveness Applications
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Paycheck Protection Program Agreed-Upon Procedures
A complex calculation deserves a second look
PPP forgiveness applications will undergo two reviews: one by the lending institution, and another by the SBA. We can help companies determine compliance.
Practice Lead
Patrick Morin
Principal
Pat specializes in AICPA’s SOC for Service Organizations (SOC 1® and SOC 2®), Sarbanes-Oxley Act, information technology controls, and data extraction and analysis. Pat also leads the firm’s ESG-related services, assisting clients with ESG planning and reporting efforts.
When it comes to loan forgiveness, assurance is key
As part of our participation with our peer firms to seek a common understanding of the processes related to the U.S. Treasury and Small Business Administration Paycheck Protection Program (PPP), we have obtained and reviewed the PPP loan forgiveness applications.
Based on the instructions for the applications, which include developing schedules to support various calculations for compensation, FTEs, salary/wage reductions, and allowed nonpayroll costs, we have determined that for many businesses the application process will be highly complex. Through the performance of agreed upon procedures, our professionals can assist your management team in its determination of compliance with the forgiveness provisions of the PPP in connection with the application submission.
How we can help
- Perform an independent, objective inspection of supporting data
- Double check the calculations performed by the company
- Inspect the overall application for completeness
CLICK HERE TO ACCESS THE APPLICATION FORMS AND INSTRUCTIONS.