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Yeo & Yeo has significant experience in auditing for various industries, government and not-for-profit organizations. The firm serves over 300 government and not-for-profit clients, including schools, villages, townships, cities and other governmental units. The firm provides audit, management consulting, retirement services, computer consulting and training opportunities.
The firm ranks #2 in Michigan among the accounting firms that perform school audits as published by the State of Michigan’s Department of Education. The Audit team performed over 85 single audits during 2008 ranging from $500,000 to $40 million in federal expenditures. The firm’s experience with sizeable government entities includes the Bureau of State Lottery with assets over $1 billion, and the State Sponsored Group Insurance with assets over $260 million.
The firm is a member of the American Institute of Certified Public Accountants' (AICPA) Governmental Audit Quality Center and Employee Benefit Plan Audit Quality Center.
Steps to Prepare for the Audit
What should our clients do to prepare for an audit? The answer to that question is simple: document the company or organization's internal controls and ensure the most basic and efficient control of reconciliation is implemented. Click here for information about documenting internal controls, creating a policies and procedures manual, reconciliation and a checklist of policies and procedures to document. (Acrobact Reader Document)
Audit Organizer - Internal Control
Auditors are required to gather information about an organization’s internal control. They will perform a wide variety of procedures to gather this information, which must be sufficient to allow them to evaluate the overall design of the system. An Audit Organizer for Internal Control is available to help small business owners and others put together their thoughts about internal control and any related documentation of the organization’s policies and procedures. By going through this process, small business owners and others involved in the financial reporting process will:
• Gain a better understanding of the company’s internal control, its strengths and its weaknesses
• Be better able to make changes to internal control to improve the company’s financial reporting process and reduce its vulnerability to fraud
• Be prepared to help auditors understand the organization’s internal control and contribute to a more efficient, less costly audit.
Click here to access the Audit Organizer
What are Compilations, Reviews and Audits
Are you in need of assurance services? Would you like greater comfort in knowing that operations are truly as they seem? If the answer is yes, or even maybe, you might consider engaging assurance services from Yeo & Yeo's Audit department. Click here for more information about Compilations, Reviews and Audits. (Acrobact Reader Document)
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