Audit & Assurance
Understand your organization's financial position, strengthen your processes, and identify opportunities for improvement.
Audit & Assurance Services That Go Beyond Compliance
An audit should provide more than an opinion on your financial statements. It should help you better understand your organization’s financial position, strengthen your processes, and identify opportunities for improvement.
No matter why you need an audit – regulatory compliance, a loan covenant, trustee or shareholder requirements, a merger or other reason – Yeo & Yeo’s experienced audit and assurance CPAs help you through the audit process and offer valuable insights. They stay ahead of the financial and compliance issues that impact your industry, help you through the complexities of reporting requirements and recommend effective internal controls.
Your Audit Should Provide Value Beyond the Report
For many organizations, an audit is an annual requirement — whether driven by funding requirements, regulatory obligations, governance expectations, or industry standards. But the value of an audit extends beyond meeting those requirements.
Our professionals take the time to understand your organization, your operations, and your goals. Throughout the engagement, we look beyond the numbers to identify opportunities to improve processes, strengthen internal controls, and provide insights that support informed decision-making.
A Better Audit Experience
YeoLean is a Lean Six Sigma-based audit process designed to improve communication, reduce unnecessary steps, and create a smoother engagement from planning through completion. Our team arrives prepared, works efficiently, and maintains clear communication throughout the process so your team can stay focused on your organization’s priorities.
Comprehensive Planning
Every engagement begins with thoughtful planning to establish timelines, identify priorities, and prepare for fieldwork.
Clear Timelines
A structured schedule keeps your audit on track from start to finish. Clear expectations and ongoing communication help everyone stay aligned.
Efficient Fieldwork
Our team arrives prepared and works purposefully to minimize disruption. We focus on gathering what we need while respecting your team’s time.
Collaborative Communication
You’ll always know where your audit stands. We maintain open communication throughout the engagement, addressing questions and sharing updates as they arise.
Meaningful Recommendations
An audit should do more than result in a report. We provide recommendations to strengthen internal controls, improve processes, and support your organization long after the engagement is complete.
Experience Serving Organizations With Unique Reporting Needs
Organizations in different industries face different reporting requirements, regulations, and stakeholder expectations. Our Audit & Assurance professionals have experience serving the following industries and more.
A Commitment to Quality
Yeo & Yeo’s system of audit quality control for our accounting and auditing practices is subject to an external peer review every three years. Under the AICPA’s Peer Review Standards, firms may receive a rating of pass, pass with deficiency(ies), or fail. Yeo & Yeo’s most recent peer review with a pass rating can be reviewed here.
Which Assurance Service Does Your Organization Need?
Choosing the right financial statement service depends on your organization’s needs, reporting requirements, and stakeholders. If you are unsure which service is right for your organization, our team can help you understand your options.
| audit | Review | Compilation | |
|---|---|---|---|
| Level of assurance | Highest | Limited | None |
| Independent testing | Yes | Some analytical procedures | No testing |
| Internal controls reviewed | Yes | Limited understanding | No |
| Best suited for | Organizations requiring a high level of assurance | Organizations needing some assurance | Organizations needing financial statement preparation |
Strengthen Confidence in Your Financial Reporting
Connect with assurance professionals who can help you address reporting requirements, improve transparency, and provide confidence to stakeholders.
Frequently Asked Questions
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How do I know if my organization needs an audit?Many organizations pursue an audit because it is required by a lender, grantor, government agency, board, or other stakeholder. Others choose to complete an audit to strengthen internal controls, improve financial reporting, or provide greater confidence to those who rely on their financial information. We work with organizations of all sizes to understand their requirements and determine the right approach.
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What types of organizations do you provide audit services for?We serve a wide range of organizations, including nonprofits, governmental entities, educational institutions, healthcare organizations, and businesses. Our experience with different industries allows us to understand the unique reporting requirements, regulations, and challenges each organization faces.
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How should my organization prepare for an audit?A successful audit starts with preparation. Organizations can help streamline the process by maintaining accurate records, documenting policies and procedures, reconciling accounts regularly, and communicating with their audit team throughout the year. We work collaboratively with management teams to make the audit process efficient, organized, and valuable beyond compliance.
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What happens after an audit is completed?An audit provides more than an opinion on financial statements. Our team shares insights and recommendations that can help strengthen internal controls, improve processes, and support better decision-making.
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What is the difference between an audit, review, and compilation?The level of assurance your organization needs depends on your goals, reporting requirements, and the expectations of your stakeholders. An audit provides the highest level of assurance through a detailed examination of financial statements and internal controls. A review provides limited assurance through analytical procedures and inquiries, while a compilation involves preparing financial statements based on information provided by management. Our team can help you understand which level of service is appropriate for your organization and its specific needs.
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What is a Federal Single Audit?A Federal Single Audit is a specialized compliance audit required for certain organizations that receive federal financial assistance. In addition to examining financial statements, a Single Audit evaluates compliance with requirements related to federal awards, internal controls, and applicable regulations. Our team helps nonprofits, governments, educational institutions, and other organizations navigate the Single Audit process and meet federal compliance requirements.
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Does my nonprofit or government organization need a Single Audit?Organizations that receive federal funding may be required to complete a Single Audit based on the amount of federal awards they expend during the year. Requirements can vary depending on the type and amount of funding received. We help nonprofit organizations, municipalities, and other entities understand their compliance responsibilities and prepare for the audit process.
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What are GASB financial statement audits?GASB (Governmental Accounting Standards Board) standards establish accounting and financial reporting requirements for state and local governments and other governmental entities. Organizations that follow GASB standards often have unique reporting requirements compared to businesses and nonprofits. Our professionals have experience working with governmental entities to provide audit services that address GASB reporting requirements and help ensure accurate, reliable financial statements.
Insights & Resources
IRS Raises the Standard Mileage Rates for the Second Half of 2026
Yeo & Yeo Recognized Among Michigan’s Best and Brightest in Wellness 2026
State Tax Nexus in 2026: What Business Owners Need to Know About Unexpected Tax Obligations
Yeo & Yeo Rises to 110th Among the Nation’s Top Accounting Firms
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