The Tax & Accounting business of Thomson Reuters has released two new modules for its Checkpoint online research service aimed at improving single audits and International Financial Reporting Standards disclosures.

The new applications include how-to processes, links to related guidance, and analysis by authors of Thomson Reuters’ PPC, RIA and WG&L brands.

PPC’s SMART Practice Aids – Single Audit provides automated software that walks accounting and auditing professionals through the complex single audit process. The tool aids in accumulating federal awards, determining if a single audit or a program-specific audit is required, identifying which award programs must be tested as major programs, determining if the auditee is “low risk,” signing off electronically, combining audit programs for multiple federal awards, and preparing a Schedule of Expenditure of Federal Awards.

PPC’s SMART Practice Aids – IFRS Disclosure enables accounting and auditing firms to help their clients comply with IFRS disclosure requirements. Disclosure requirements are included for both full IFRS and IFRS for small- and midsized entities. Users can tailor lengthy disclosure checklists with only the applicable requirements and identify new or changed requirements. The tool integrates with PPC’s SMART Practice Aids – Disclosure.

For more information, visit http://thomsonreuters.com/products_services/taxacct/.

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