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Thomson Reuters Provides Guidance on Latest Single Audit Requirements for Auditors

To help auditors meet the performance standards of single audits for government and nonprofit organizations, Thomson Reuters has added the latest Uniform Guidance audit requirements to PPC’s SMART Practice Aids – Single Audit. The new requirements are generally effective for years ending December 25, 2015 and later.

The solution automatically walks auditors through the complexities of the new rules, thresholds, and associated calculations, while providing guidelines to follow based on engagement and award dates. It also streamlines the single audit process of assessing risks and determining which programs should be audited, as well as creating forms, schedules, and compliance audit programs.

“This update is critical in ensuring governmental auditors efficiently comply with the new audit requirements,” said Scott Spradling CPA, vice president, Audit and Accounting Segment with the Tax & Accounting business of Thomson Reuters. “Thousands of firms across the U.S. rely on our single audit solutions, and we are proud to provide our customers with the most up-to-date guidance.”

PPC’s SMART Practice Aids – Single Audit is a comprehensive technology application that provides expert guidance through the entire single audit process, offering a practical, automated, how-to approach that complies with all relevant single audit standards. PPC is part of the Thomson Reuters Checkpoint brand. For more information, click here.

Thomson Reuters Checkpoint provides integrated research, editorial insight, productivity tools, online learning and news updates along with intelligent links to related content and software. It is relied on by thousands of tax and accounting professionals including practitioners in 97 of the Top 100 U.S. law firms, 99 of the Fortune 100 companies, and all of the top 100 U.S. CPA firms.