Yellow book standards for independence

The Yellowbook has been updated and includes stricter standards in regards to auditor independence, specifically related to the preparation of the financial statements. There may be instances in which entities being audited under Yellowbook standards may need to consider separating out the financial statement preparation services from the audit services (if the audit firm previously has been preparing the financial statements). We would be glad to discuss the new rules and how we can assist. Reach out to Jay Sharpe for more details.