An AICPA letter suggests that the need for certain borrowers to complete a new form and provide extensive documentation supporting their request for relief funds be reconsidered and that other approaches be evaluated in assessing a borrower’s good faith certification.
Energy producers are focusing on balance sheet strength and free cash flow as they recover from a severe blow dealt by the coronavirus pandemic.
The AICPA is among 80 organizations that have signed a pair of letters to SBA, Treasury and congressional leaders calling on the agencies to temporarily suspend use of the new Paycheck Protection Program Loan Necessity Questionnaires.
A new publication provides guidance on how to apply the Committee of Sponsoring Organizations of the Treadway Commission’s enterprise risk management framework to manage and mitigate compliance risks.
This article discusses ways those in public-sector finance can handle public perceptions of spending on things like travel and overtime without compromising on the work they need to do.
Businesses and not-for-profits that received $2 million or more in PPP loans must complete one of two new loan necessity questionnaires the SBA is sending to lenders for distribution to borrowers.
Most plan to keep their current real estate, but they are reimagining what that space could look like.
CPAs must follow proper policies and procedures to avoid state audits and steep penalties caused by noncompliance with unclaimed property regulations.
The Federal Reserve board announced that it lowered the minimum loan size for three of its Main Street Lending Program facilities in an effort to make the program available to more and smaller businesses.
Panelists at an AICPA fall Council presentation on resilience explained how basic values can drive success during troubled times such as the coronavirus pandemic.
When services are needed most and when revenue is likely dropping, not-for-profit leaders face big challenges. A finance leader at an NFP shares adaptation advice.
Fears of a late-October PPP surprise came to the SBA’s attention because the program’s loan forgiveness application forms display an expiration date of “10/31/2020” in the upper-right corner.
The IRS finalized regulations governing the treatment of net operating losses by consolidated groups after recent legislation changed the rules.
The lessons corporate directors take away from the pandemic will be critical to company survival and success beyond 2020. This podcast episode contains insight on board members’ thinking.
Disclosures around oversight of cybersecurity risk by audit committees are increasing in public company proxy statements, according to a yearly analysis released by the Center for Audit Quality and Audit Analytics. But other disclosures have leveled off in recent years.
PPP borrowers of $50,000 or less will have the opportunity to apply for forgiveness using a simplified application. Under the new process, these borrowers will be exempted from penalties for reduction of full-time employees or employees’ salary or wages.
The SBA released guidance clarifying that lenders must recognize the previously established extended deferral period for payments on the principal, interest and fees on all Paycheck Protection Program (PPP) loans, even if the executed promissory note indicates only a six-month deferral.
The US SBA issued a procedural notice designed to help PPP borrowers and their lenders understand their responsibilities when a borrower undergoes a change in ownership.
Prospective employees often seek more than just a hefty starting salary. Here’s how to fire up your hire power.
Boards were meeting more regularly, more virtually, and getting more into the details on topics previously addressed only at a high level.