Report of Independent Registered Public Accounting Firm

-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MX6D94IiYKjjzd6qNvX1gkJehITEbC6gboyXa8GblEJh8ejr974UD0e3a/PO5BsK rlFb9jSQALd8dXrSj92CRg== 0001287695-05-000702.txt : 20051228 0001287695-05-000702.hdr.sgml : 20051228 20051228150651 ACCESSION NUMBER: 0001287695-05-000702 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20051031 FILED AS OF DATE: 20051228 DATE AS OF CHANGE: 20051228 EFFECTIVENESS DATE: 20051228 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MUNIYIELD MICHIGAN INSURED FUND INC CENTRAL INDEX KEY: 0000890393 IRS NUMBER: 223196060 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: 1940 Act SEC FILE NUMBER: 811-07080 FILM NUMBER: 051288773 BUSINESS ADDRESS: STREET 1: 800 SCUDDERS MILL RD CITY: PLAINSBORO STATE: NJ ZIP: 08536 BUSINESS PHONE: 6092822800 FORMER COMPANY: FORMER CONFORMED NAME: MUNIYIELD MICHIGAN INSURED FUND II INC DATE OF NAME CHANGE: 20020620 FORMER COMPANY: FORMER CONFORMED NAME: MUNIYIELD MICHIGAN INSURED FUND INC DATE OF NAME CHANGE: 19920929 NSAR-B 1 answer.fil PAGE 1 000 B000000 10/31/2005 000 C000000 0000890393 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 MUNIYIELD MICHIGAN INSURED FUND, INC. 001 B000000 811-7080 001 C000000 6092822800 002 A000000 P.O. 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PAGE 8 080 C000000 750 081 A000000 Y 081 B000000 137 082 A000000 N 082 B000000 0 083 A000000 N 083 B000000 0 084 A000000 N 084 B000000 0 085 A000000 Y 085 B000000 N 086 A010000 10 086 A020000 159 086 B010000 0 086 B020000 0 086 C010000 1 086 C020000 24627 086 D010000 0 086 D020000 0 086 E010000 0 086 E020000 0 086 F010000 0 086 F020000 0 087 A010000 COMMON STOCK 087 A020000 626300107 087 A030000 MIY 087 B010000 PREFERRED STOCK 088 A000000 N 088 B000000 N 088 C000000 N 088 D000000 Y SIGNATURE DONALD C. BURKE TITLE TREASURER EX-99.77B ACCT LTTR 2 mymii77b.htm Report of Independent Registered Public Accounting Firm

To the Shareholders and

Board of Directors of MuniYield Michigan Insured Fund, Inc.

In planning and performing our audit of the financial statements of MuniYield Michigan Insured Fund, Inc. as of and for the year ended October 31, 2005, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered its internal control over financial reporting, including control activities for safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, but not for the purpose of expressing an opinion on the effectiveness of MuniYield Michigan Insured Fund, Inc.’s internal control over financial reporting. Accordingly, we express no such opinion.

The management of MuniYield Michigan Insured Fund, Inc. is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. Such internal control includes policies and procedures that provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A control deficiency exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A significant deficiency is a control deficiency, or combination of control deficiencies, that adversely affects the company’s ability to initiate, authorize, record, process or report financial data reliably in accordance with generally accepted accounting principles such that there is more than a remote likelihood that a misstatement of the company’s annual or interim financial statements that is more than inconsequential will not be prevented or detected. A material weakness is a significant deficiency, or combination of significant deficiencies, that results in more than a remote likelihood that a material misstatement of the annual or interim financial statements will not be prevented or detected.

Our consideration of MuniYield Michigan Insured Fund, Inc.’s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be significant deficiencies or material weaknesses under standards established by the Public Company Accounting Oversight Board (United States). However, we noted no deficiencies in MuniYield Michigan Insured Fund, Inc.’s internal control over financial reporting and its operation, including controls for safeguarding securities, that we consider to be a material weakness as defined above as of October 31, 2005.

This report is intended solely for the information and use of management and the Board of Directors of MuniYield Michigan Insured Fund, Inc. and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

/s/Ernst & Young LLP

Philadelphia, Pennsylvania

December 9, 2005

EX-99.77O RULE 10F-3 3 mymii77o.htm 10F-3 TRANSACTIONS

MUNIYIELD MICHIGAN INSURED FUND

FILE # 811- 7080

ATTACHMENT 77O

TRADE DATE

DESCRIPTION OF SECURITY

ISSUE SIZE

AMOUNT PURCHASED

LIST OF UNDERWRITERS

6/3/2005

Puerto Rico IFA 7/1/36

1,332,962,916

6,700,000

UBS Financial

Banc of America

Merrill Lynch

Citigroup

Goldman Sachs

JP Morgan

Lehman Brothers

Morgan Stanley

Raymond James

Ramirez & Co

Wachovia Bank

9/22/2005

Puerto Rico Highway 5% 7/1/40

1,499,910,000

2,500,000