Measures implemented by the U.S. Small Business Administration (SBA) to screen for potential fraud in Paycheck Protection Program (PPP) applications continue to cause stress and delays in the system, AICPA executives said during a recent online town hall.
Stung by reports of widespread fraud during the first round of PPP last year, the SBA instituted dozens of validation checks for the $284 billion PPP round that opened last month. Those measures have caused long delays in PPP processing.
In response, the SBA said it is working to smooth out the PPP process. Read more.