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December 09, 2014

Thomson Reuters Checkpoint Releases Tool for Real Estate Audits

NEW YORK – Thomson Reuters today announced the release of a new real estate audit tool, PPC's Practice Aids for Audits of Real Estate Entities. The tool covers audits of nonpublic entities engaged in developing, managing and owning real estate projects for their own use or for sale to others. This includes audits of real estate operators, real estate developers (including homebuilders), and retail land sales developers.

The real estate industry centers on investment in residential, commercial, and multi-use real estate properties. The difficulties associated with auditing real estate projects stem from the complex U.S. accounting literature governing the capitalization of real estate project costs and the recognition of revenue.

"Many areas of the country are seeing significant improvements in the residential and commercial real estate markets," said Scott Spradling, vice president of audit and accounting within the Tax & Accounting business of Thomson Reuters. "As a result, rental rates and sales prices are increasing and the demand for new development is growing, creating opportunities for accountants who serve the industry. PPC's Practice Aids for Audits of Real Estate Entities are designed to give auditors the tools they need to navigate complex accounting literature and perform effective and efficient real estate audits."

PPC's Practice Aids for Audits of Real Estate Entities include step-by-step processes, extensive links to related content, and authoritative analysis by renowned industry experts. In addition, the tool enables real estate audits within the market-leading PPC SMART Audit Suite, which is part of the Thomson Reuters Checkpoint Tools line. The tool is designed to work alone or with all paperless engagement products, providing exclusive integration with Engagement CS and AdvanceFlow, part of Thomson Reuters CS Professional Suite. With our respected content, which includes PPC, Checkpoint is relied on by thousands of professionals around the world to understand complex information, make informed decisions and use knowledge more efficiently.

For more information about PPC's Practice Aids for Audits of Real Estate Entities, visit http://store.tax.thomsonreuters.com/accounting/Audit-and-Accounting/PPCs-Practice-Aids-for-Audits-of-Real-Estate-Entities/p/100426512.

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