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.

LET'S TALK
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.

Patrick Morin

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.

We look forward to partnering with you.