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ARTICLE · 22 OCTOBER 2021

Heads Up, Restaurants: Federal Relief Could Trigger A Single Audit

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Since the outbreak of COVID-19, the restaurant industry has been one of the hardest hit by the pandemic's impacts, leading to spikes in business closures, continued capacity limitations, and ...

United StatesAccounting and Audit
James Pellino
James Pellino
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Since the outbreak of COVID-19, the restaurant industry has been one of the hardest hit by the pandemic's impacts, leading to spikes in business closures, continued capacity limitations, and unprecedented loss in both jobs and sales. However, many establishments were able to keep their doors open and continue to serve customers throughout the course of the pandemic with the help of federal aid issued through the CARES Act programs, Restaurant Revitalization Fund and other relief programs. As a result, restaurants may be subject to the Single Audit this year.

Related Read: $28.6 Billion Federal Restaurant Relief

Before approaching your Single Audit, consider the following to ensure you are in compliance with your federal relief program:

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