Crossword Genius

A sound of timely significance (3)

Ross

I believe the answer is:

pip

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This could be a double definition.

'a sound' is the first definition.
Although both the answer and definition are singular nouns, I don't understand how one could define the other.

'timely significance' is the second definition.
Although both the answer and definition are singular nouns, I can't see how they can define each other.

'of' is the link.

Can you help me to learn more?

(Other definitions for pip that I've seen before include "tiny bit of fruit" , "one signals lieutenant" , "Small hard seed" , "Spot (on card); seed (of fruit)" , "Narrowly defeat" .)

I've seen this clue in the Evening Standard.
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