The AICPA developed additional recommendations for CPAs to assist clients as they navigate the Paycheck Protection Program (PPP).
The recommendations focus on the firm-lender relationship in the PPP application process.
In addition, the AICPA’s Center for Plain English Accounting (CPEA) issued a special report on issues related to CPA involvement in small business loans under the PPP. This report covers independence, conflicts of interest, and contingent fee issues. It also includes practice notes and CPEA observations.