Latest Breaking News On - Craig stetson - Page 1 : comparemela.com

[co-author: Craig Stetson ] In our last post on this topic, we touched on how the acceptance, use, and forgiveness of Paycheck Protection Program (“PPP”) loans can be viewed in the context of a Defense Contract Audit Agency (“DCAA”) audit. This post focuses on audits and investigations involving PPP loans. Close scrutiny of PPP loans is not a prediction; it is reality. The Small Business Administration (“SBA”) has announced it will audit all PPP loans in excess of two million dollars following a lender’s submission of a borrower’s loan forgiveness application, and it reserves the right to “spot check” any PPP loan of a lesser amount at its discretion. The Department of Justice has already charged multiple individuals with PPP fraud. And this is just the beginning of what many think will be a tidal wave of enforcement activity involving PPP loans.

United statesCraig stetsonDepartment of justiceDefense contract audit agencyOffice of inspectorHealth care enhancementCompanies should prepare now to mitigate riskSmall business administrationGovernment accountability officePaycheck protection programCoronavirus aidEconomic security actHealth care enhancement actConsolidated appropriations actAmerican rescue plan actRecipients are ripe