The U.S. Department of Treasury and Small Business Administration (SBA) have promised the government will audit all recipients of Paycheck Protection Program (PPP) loans over $2 million who seek loan forgiveness. So, the question is not if, but when, an audit is coming.

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Eligible borrowers should not be frightened by the government’s warning that audits are coming; instead, use this time to prepare. Do everything you can today to ensure your business reaps full benefits as intended by the spirit of the PPP, while remaining compliant with its uncertain requirements.

In accountingWEB, StoneTurn’s Jonny Frank and Ryan LaRue outline five practical steps borrowers can take to withstand the scrutiny of PPP audits and investigations.

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About the Authors

Jonny Frank

Jonny Frank

Jonny Frank, a Partner with StoneTurn, brings more than 40 years of public, private and education sector experience in forensic investigations, compliance and risk management. He joined StoneTurn in 2011 […]

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Ryan LaRue

Ryan LaRue, a Manager with StoneTurn, has experience in forensic accounting and auditing, litigation advisory, and compliance and monitoring. Ryan’s experience includes performing forensic accounting investigations and assisting counsel with […]

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