Audit & Assurance

Four Key Ways to Utilize Your Auditor for More than Just the Audit

David R. Youngstrom

Audits have a stigma that leads people to believe that audits (and the auditors) are only a requirement to check off the annual business cycle. Hopefully, you have a great relationship with your auditor that allows the audit process to go smoothly. Once the financial statements have been released, the audit submitted to the State, and the Board ... Learn More

Three Questions to Ask Your IT Staff About Cybersecurity

Joe Malott

As a responsible party to the security of your companies data, it boils down to a simple question – when it comes to cybersecurity, how do you know that your organization is secure? Yeo & Yeo Computer Consulting is providing three questions, and a little background about each topic, so you can be confident when reporting to ... Learn More

Unclaimed Property – State of Michigan Filing Requirements

Kristi Krafft-Bellsky

It’s that time of the year when the State of Michigan would like all organizations to look through their bank reconciliations to determine if there are any uncleared checks that have reached a dormancy period as of March 31, 2018, that would require reporting to the state. A general rule of thumb is that the dormancy period is one year f... Learn More

Promotion

Jessica Rolfe, Nonprofit Services Group Leader, Promoted to Senior Manager

Yeo & Yeo CPAs & Business Consultants

Yeo & Yeo CPAs & Business Consultants is pleased to announce the promotion of Jessica Rolfe, CPA, to senior manager. Her areas of expertise include audits for government entities, school districts, nonprofit organizations and healthcare organizations. Jessica leads the firm's Nonprofit Services Group and is a member of ...

Stock

Only Certain Trusts Can Own S Corporation Stock

Yeo & Yeo CPAs & Business Consultants

S corporations must comply with several strict requirements or risk losing their tax-advantaged status. Among other things, they can have no more than 100 shareholders, can have no more than one class of stock and are permitted to have only certain types of shareholders. In an estate planning context, it’s critical that any trusts that w...

Meeting

Credentialing Hot Topics

Yeo & Yeo CPAs & Business Consultants

In the world of credentialing, you can always expect changes in the process or variations between insurance carriers. To avoid interruptions in your practice’s reimbursement and revenue cycle, you’ll want to become familiar with the most recent changes. Staying up to date can be challenging, so we’ve compiled a few tips to keep your enro...

Apple Money

Is the Price Right? Estimating the Fair Value of a Municipality’s Investments

Yeo & Yeo CPAs & Business Consultants

Management Must Assume Responsibility for Fair Value Estimating the fair value of a municipality’s investments — particularly pension and other postemployment benefit plan investments held in trust — can be a difficult and subjective process. Many municipalities rely on third-party pricing sources such as broker/dealers or valuat...

Performance Audit Update

Jamie Rivette

The Michigan Department of Transportation (MDOT) no longer requires performance audits to be completed and submitted to the department for each recipient of ACT 51 funds. Any costs incurred by municipalities related to these performance audits can be submitted to MDOT for reimbursement. Invoices and fees paid for the performance audit and... Learn More

The ABCs of Your Single Audit

Yeo & Yeo CPAs & Business Consultants

At the recent Michigan School Business Officials conference, Jennifer Watkins presented, “The ABCs of Your Single Audit.” She spoke about how to prepare the Schedule of Expenditures of Federal Awards (SEFA), SEFA reconciliation and notes, and other necessary schedules. She also shared information on hot topics such as Uniform Grant Guida... Learn More