Auditing EIDL and PPP Loans - COVID06WEB

Auditing EIDL and PPP Loans - COVID06

Auditing EIDL and PPP Loans - COVID06WEB
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Auditing EIDL and PPP Loans - COVID06WEB

Overview

This webinar provides an overview of EIDL and PPP Loans and how to record these loans, document the expenses paid for with the loan proceeds, and how to audit the forgiveness application documentation to make a determination on the probability that forgiveness will be granted.


Who Should Attend

Internal and external auditors, public and management accountants, fraud examiners, financial officers, controllers, business owners, business managers, government accountants and government auditors.


Prerequisites

  • None

What You’ll Learn

You will learn about the characteristics of the EIDL and PPP loans. You will also learn to audit and report on the revenue and expenditure issues, quarantine and shutdown risks, cybersecurity considerations, and waste, fraud, and abuse concerns.


Objectives

Standards Review:

  • Government Accounting
  • Government Auditing

COVID-19 Issues:

  • Revenue Issues
  • Expenditure Issues
  • Government Risks
  • Program Risks
  • Quarantine & Shutdown Risks
  • Cybersecurity Risks
Government Auditing Issues:
  • 2018 Yellow Book Revision
  • Waste
  • Fraud
  • EIDL

Why You Should Attend

You should attend because financial institutions have issued or bought many EIDL and PPP loans in the secondary market since the pandemic began, and auditors should know what procedures are necessary to conduct an effective audit.

ACI Learning is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

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