PPP Services & Peer Review

May 26, 2021

A common question CPA firms are asking AICPA peer review staff is related to Paycheck Protection Program (PPP) loan forgiveness services and whether they are engagements subject to peer review. Firms may be asked to check calculations performed by their clients for accuracy and issue a report on the findings. This may indicate an agreed-upon procedures engagement is needed or has been performed. If the firm is not otherwise subject to peer review, the performance of an agreed-upon procedures engagement under the Statements on Standards for Attestation Engagements (SSAEs) would require the firm to undergo an engagement review.  

Resources for CPA firms regarding PPP loan forgiveness services:

If you have any questions related to PPP loan forgiveness services and their impact to peer review, please contact technical support at prptechnical@aicpa.org or calling 919.402.4502, option 3.