“It was interesting to learn about blockchain and the use of data analytics.”
Mike Bilby, CPA, CVA
Concannon Miller & Co. PC
A single audit is an organizationwide financial statement and federal awards audit that is required when a nonfederal entity expends more than $750,000 of federal dollars in a year. There are numerous compliance responsibilities that rest with the auditee of these types of audits.
The federal government recently loosened the regulations covering PPP loans to give businesses more flexibility to spend the money and to qualify for loan forgiveness. This blog shares eight ways the federal government made it easier to use PPP loans and three recommendations for tracking how the funds are spent to help ensure maximum forgiveness.