Audit & Assurance

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

I Love a Good Audit

Yeo & Yeo CPAs & Business Consultants

At the recent Michigan School Business Officials conference, Jennifer Watkins of Yeo & Yeo CPAs and Gloria Suggitt, Michigan Department of Education Single Audit Grant Coordinator, presented, “I Love a Good Audit.” The presentation focused on updates to the Audit Manual and other common issues that the Michigan Department of Educatio... Learn More

Preparing for a Headache-free Audit

Molly Fish

Audits don't have to be stressful with proper preparation. Yeo & Yeo has streamlined its approach to audits. We have implemented procedures to complete the audit efficiently using state-of-the-art technology and our knowledge of ever-changing audit and accounting standards. Our approach balances compliance with providing sup... Learn More

Pro Bono CPA Services for Growing Companies in Michigan

Yeo & Yeo CPAs & Business Consultants

Yeo & Yeo CPAs & Business Consultants is going into its fifth year of helping to advance Michigan’s growth by nurturing companies through pro bono services under the Pure Michigan Business Connect initiative. This initiative, developed by the Michigan Economic Development Corporation (MEDC), connects early-stage Michigan com... Learn More

Facing a HIPAA Audit: What to Know

Yeo & Yeo CPAs & Business Consultants

Early in the history of the Health Insurance Portability and Accountability Act (HIPAA), violations typically involved receiving a warning letter from the Department of Health and Human Services (HHS). It was basically toothless and carried no penalties. In 2009, Congress passed the Health Information Technology for Economic and Clinic... Learn More