News & Analysis as of

Audits Certification Requirements

Faegre Drinker Biddle & Reath LLP

OFCCP Issues Important Update About Contractor Portal Certification Process

On July 28, 2022, the Office of Federal Contract Compliance Programs (OFCCP) issued important clarifications about the certification process through its Federal Contractor Portal (Portal). As previously reported, the Portal...more

Latham & Watkins LLP

European Parliament and Council Reach Political Agreement on CSRD

Latham & Watkins LLP on

The Corporate Sustainability Reporting Directive expands the existing sustainability reporting requirements and brings more companies under its scope. On 21 June 2022, the European Parliament and European Council reached...more

Parker Poe Adams & Bernstein LLP

SBA Reveals Questionnaires Aimed at Auditing Necessity of Large Paycheck Protection Program Loans

In a series of FAQs issued last spring, the Small Business Administration (SBA) made clear that it would review the certification made by Paycheck Protection Program (PPP) borrowers of $2 million or more that “[c]urrent...more

Proskauer - Government Contractor Compliance...

OFCCP Takes Next Step In Establishing An Annual AAP Certification Program

On September 14, 2020, the Federal Register published an information collection request (“ICR”) by the OFCCP in which the agency discloses that it “seeks authorization for an annual Affirmative Action Program online...more

Sheppard Mullin Richter & Hampton LLP

Tips for the Unwary: Precautions Against Liability for Healthcare Businesses Receiving CARES Act Funds

The Coronavirus Aid, Relief, and Economic Security (CARES) Act provided trillions in economic relief in response to the COVID-19 pandemic, including hundreds of billions of dollars in aid for the healthcare industry....more

Fisher Phillips

Businesses That Obtained PPP Loans Under $2M Will Not Be Audited (UPDATED)

Fisher Phillips on

One long week after the U.S. Treasury announced that it was extending the Paycheck Protection Program Loan “safe harbor” deadline to May 14, the U.S. Treasury announced this morning that borrowers whose loan amount (combined...more

UB Greensfelder LLP

The CARES Act Update – Safe Harbor Materially Revised

UB Greensfelder LLP on

UPDATED May 14, 2020 – On May 13, 2020, the U.S. Treasury Department announced an additional automatic extension of the Safe Harbor deadline from May 14, 2020 to May 18, 2020. May 13, 2020 – The rules and ground shifted...more

Hinshaw & Culbertson LLP

PPP Loan Proceeds Return Date Extended, Tips on Preparing for a PPP Loan Audit

PPP Loan Proceeds Return Date Extended - On April 23, 2020, the U.S. Department of the Treasury and Small Business Administration (SBA) announced that public companies receiving Paycheck Protection Program (PPP) loans, who...more

Rosenberg Martin Greenberg LLP

Considering Returning Funds from the Paycheck Protection Program? Here's What You Need to Know.

For those seeking to return funds from the Paycheck Protection Program (“the PPP”) pursuant to the safe harbor, the deadline is fast approaching: May 14, 2020.  While this issue continues to generate publicity, the fear being...more

Hinshaw & Culbertson LLP

Borrowers Beware: Audits of PPP Loans in Excess of $2 Million and Economic Uncertainty Certification

PPP Loan Forgiveness is Criticized, Guidance is Forthcoming - Audits of PPP Loans in Excess of $2 Million - On April 28, 2020, U.S. Secretary of Treasury Steven Mnuchin announced that all Paycheck Protection Program...more

Miles & Stockbridge P.C.

DOD Issues Version 1.0 of Its Cybersecurity Maturity Model Certification, and a Related “Accreditation Body” Has Been Formed as a...

January 2020 was a very important month for DOD’s Cybersecurity Maturity Model Certification (CMMC) initiative. Last week, on January 31, 2020, DOD issued CMMC “Version 1.0” to the public....more

McDermott Will & Emery

Weekly IRS Roundup January 27 – 31, 2020

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 27 – 31, 2020. January 27, 2020: The Joint Committee on Taxation released a report...more

Williams Mullen

EPA Places Renewed Emphasis on Audit Policy

Williams Mullen on

There are many benefits of corporate environmental auditing programs for companies large and small, not the least of which is the potential mitigation of civil penalties for violations of environmental laws discovered during...more

FordHarrison

U.S. DOL Plans to Review Contractor Affirmative Action Certification

FordHarrison on

On August 3, 2018, the head of the U.S. Department of Labor’s (DOL) contractor enforcement office announced that the DOL intends to identify and audit contractors who fail to certify their affirmative action compliance to the...more

Orrick, Herrington & Sutcliffe LLP

Audits of Multifamily Housing Bonds Triggered by Failure to File Form 8703

IRC Section 142(d) requires operators of qualified residential rental properties to file Form 8703, Annual Certification of a Residential Rental Project annually. A number of recent audits of multifamily housing bonds appear...more

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