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09 Jul

Creditworthiness Verifications and PPP Loans

CPA firms receiving requests from lenders for creditworthiness verifications for clients who had requested Paycheck Protection Program (PPP) loans were often unsure of how to respond. The advice CAMICO gave CPAs assisting their clients with PPP loan applications is valid for similar circumstances in which a lender wishes the borrower’s CPA to provide creditworthiness feedback to the lender.

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07 Jul

War Story 119

Subject: Business Management Services; Wire Transfer Fraud

John Duval, CPA, had been engaged for several years by a high-net-worth client, Ed Robertson, who developed commercial and residential real estate. Duval provided business management and bill-paying services, which included wire transfer authority to pay Robertson's bills and transfer funds.

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Latest Articles

  • 18 May

    Plan Ahead: Practice Continuation for Small Firms

    By Suzanne M. Holl, CPA

    No one likes to think about it, but as we age, some of us will become critically ill or injured, and some of us will experience a long-term disability. Family emergencies and obligations can also call CPAs away from their businesses for long pe... read more

  • 17 May

    Crypto: Thinking Future Risk and Defensive Documentation

    "Hope for the best, plan for the worst" — a very sound risk management approach. When it comes to your client being exposed to cryptoasset risk "plan for the worst" is necessary. No one at CAMICO, or anywhere else, knows whether cryptoassets will suffer a crash in value. What we at CAMI... read more

  • 17 May

    The Dos and Don'ts of Disengaging

    Whether due to the "great resignation," the "great reassessment," or the "baby boomer departure," the CPA profession is experiencing a diminishing workforce while facing "standards overload," handling a variety of relief programs, coping with innumerable IRS issues, and dealing with the co... read more