AICPA CNA six risk minimization steps PPP EIDL [Risk Alert] Loan and Debt Relief Application Assistance
four (4) pages Risk Alert - see attached pdf.
Mon, Apr 13 at 9:50 AM
The confusion surrounding the introduction of the Paycheck Protection Program ("PPP") and other loan options provided by the Coronavirus Aid, Relief, and Economic Security Act and other stimulus activities have small businesses turning to their CPAs for help, especially as it relates to assistance with loan applications.
This alert outlines risk mitigation activities to be undertaken by CPA firms related to this service. Note that additional guidance on this topic is being issued frequently, and the consultative advice herein may be subject to change.
Client Acceptance
Before accepting an engagement to assist a client in applying for a funding program administered by the U.S. Small Business Association (SBA) , including PPP, CPAs should first consider whether the client is the right fit for the service and that they understand their responsibilities.....
four (4) pages Risk Alert - see attached pdf.
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Neil Sullivan
NEIL A.J. SULLIVAN, CPA TEP
Scarsdale NY
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