Thomson Reuters has announced the release of Checkpoint Engage Single Audit, the only web-based application that automates the entire single audit process.

“Each year, U.S. accounting firms perform approximately 40,000 single audits for clients who receive federal grants. The single audit process is very complex, specific, and ever-changing,” said Piritta van Rijin, Global Head of Product, Accounting, Tax & Practice, Thomson Reuters. “Built alongside our customers and incorporating their feedback every step of the way, Checkpoint Engage Single Audit is the only online application that automates the entire process, ultimately increasing profitability for accounting firms.”

Checkpoint Engage Single Audit streamlines the error-prone single audit process with step-by-step in product guidance, enabling accounting professionals to comply with both their professional standards and government requirements, while confidently and efficiently performing these audits.

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Checkpoint Engage Single Audit is embedded with the Office of Management and Budget’s Compliance Supplement, so users no longer need to work across applications – everything they need is included and automated. Users enter their client’s federal award information and expenditures and answer a few questions, then the application performs complex calculations to determine which awards must be audited. A compliance audit program is then prepared, containing the procedures that must be performed.

A web-based solution, Checkpoint Engage Single Audit offers the flexibility to work from anywhere and allows multiple team members to collaborate on the same engagement simultaneously, with real-time updates. As part of the Checkpoint Engage family of products, Checkpoint Engage Single Audit provides auditors a seamless experience for financial statement audits of local governments, nonprofits, school districts, and HUD engagements, along with a host of other Thomson Reuters Cloud Audit Suite industry titles and applications.

To learn more, visit Checkpoint Engage Single Audit.