The Time is Here: Shuttered Venue Operators Grant Audit Deadline Looming
June 15, 2022
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With the September 30, 2022 deadline for Shuttered Venue Operators Grant (SVOG) program-specific audits looming, Cherry Bekaert’s Brynn McNeil, Assurance Partner, sits down with Lori Clomburg, a Senior Business Development Specialist, to discuss the actions grant recipients must take in the coming months to ensure grant compliance.
Brynn has been on the forefront of navigating the complexities that surround the SVOG grant and is prepared to help you understand your compliance requirements, as well as the potential audit and reporting matters. Due to Cherry Bekaert’s unique qualifications and previous experience, our team is prepared to assist SVOG grant recipients with all aspects of grant compliance including:
- Assessing cost eligibility and allowability
- Determining if your company has triggered a program-specific audit and provide consulting on how to structure expenses to avoid multiple audits, if possible
- Conducting the SVOG program-specific audit
- Providing clarification on what to expect with a program-specific audit
- Determining Employee Retention Credit (ERC) eligibility and filing an amended Form 941X to assist companies claim the credit
With the release of the Compliance Supplement in May 2022, our auditors now have the framework for the program-specific audit and are prepared to begin audit reviews of SVOG awards. All SVOG grant recipients should evaluate the audit requirements of their grant and begin seeking the assistance of an independent third-party accountant. Our team has an in-depth understanding of the SVOG program and has extensive experience and the certification to conduct the program-specific audit.
If you have any questions specific to your situation, Brynn is available to discuss your particular needs.
Related Guidance:
- Webinar Recording: So You Received a Shuttered Venue Operators Grant, Now What?
- Article: Shuttered Venue Operators Grant (SVOG) Relief: Considerations and Important Guidelines for Grant Recipients
- Article: Most Frequently Asked Questions about the Employee Retention Credit (ERC)