Greetings. Here are your Articles for May 2020
YOUR GOODWILL MAY NEED TESTING
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Sobel EAC Valuations

With businesses currently struggling, expected revenue and profit levels are declining for many. If you carry goodwill on your balance sheet, this global economic decline may be a triggering event for testing goodwill for impairment, and this may be the time to do so. With high volatility in the stock market and an end date for COVID-19 Stay-at-Home just entering the discussion, experts cannot predict what the long-term economic implications will be on the value of your real estate, business, and other assets. We want our clients to know they have options.
FRAUD IN HARD TIMES: COVID-19, RECESSIONS AND MAJOR CONSTRUCTION PROJECTS

The Center for Counter Fraud Studies at the University of Portsmouth, United Kingdom recently invited Rebecca Fitzhugh to contribute to a discussion between Professor Mark Button, Director of the Centre for Counter Fraud Studies and Jim Gee from Crowe LLP. It concerns the emerging cybercrimes and frauds occurring under the guise of Covid19 in the UK/USA and the impact of the likely coming recession on these crimes. It also features insights on fraud and corruption in major construction projects, which Rebecca has extensive experience of dealing with and which given the likely increase in UK Government expenditure in this area is another area counter fraud professionals need to be concerned with.
PAYCHECK PROTECTION PROGRAM FRAUD
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The Paycheck Protection Program (“PPP”), established by the CARES Act, is a Small Business Association (“SBA”) loan intended to help businesses with 500 or fewer employees keep their workforce employed during the COVID-19 crisis. Congress initially allocated $349 billion to the program in the first stimulus package, and added an additional $310 billion in April. Unfortunately, since its launch in April, there have been numerous issues with the program, including technological problems, loopholes for larger businesses, and lack of access, specifically for women and minority owned businesses.