The Coronavirus Aid, Relief, and Economic Security Act (“CARES” Act) is designed to aid the economy in a bleak time, but there are strings attached. There are reporting requirements and other obligations imposed upon aid recipients, including the possibility of future government audits and investigations. Crowell & Moring reviews past government efforts to regulate spending associated with national disasters, offers a timeline and sequence of audit and enforcement risks, and suggests compliance advice for applicants for CARES Act funding and other governmental relief.
