Common Audit Findings in PPP & Other Pandemic Relief Programs

Common Audit Findings in PPP & Other Pandemic Relief Programs

Date: Tuesday, November 17, 2020 | 1:30 PM – 2:30 PM

Venue: Your Computer

Description: Through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Banks diligently worked to ensure that borrowers were able to keep the doors of their business open through the Paycheck Protection Program & Economic Injury Disaster Loans. Furthermore, the FFIEC allowed for loan deferments without being flagged as a Troubled Debt Restructure. Now that the PPP program has closed & the immediate need of loan modification requests have been processed, these activities are now or will soon be ready for second line (compliance & risk management) & third line (internal audit) reviews.

Understanding common audit findings being observed within these programs will allow risk managers to update pandemic relief program processes as they continue to work with affected borrowers. In addition, in the event of a third wave of PPP lending, lenders can avoid some of the misconceptions of allowable costs, can ensure that borrower’s received the maximum benefits & have correct supporting documentation to ensure borrower’s can receive full loan forgiveness.

Attendees of this complimentary, live webinar will:

– Review audit pitfalls as it relates to pandemic relief activities & the impact on risk management
– Ensure proper customer communications
– Identify opportunities to enhance documentation standards of requests/agreements
– Learn common audit findings related to PPP originations & forgiveness applications & the impact on risk management
– Comprehend guidance on allowable costs
– Identify opportunities to enhance documented policies & procedures

1 CPE credit in Specialized Knowledge is offered.

Schedule:
1:30 – 2:15 PM – Presentation
2:15 – 2:30 PM – Q&A Session

Presenters: Melissa Correa, CRCM, Manager & David Healey, Supervising Senior Associate of Mercadien’s Financial Institutions Services Group.

For questions about this event, please email events@mercadien.com.

Register Here

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