On Tuesday, offers from the West Midlands Police's Economic Crime Team held an "exploratory" meeting with the lawyers at St Andrew's to discuss the liabilities.
A spokesman told the Birmingham Mail: "West Midlands Police can confirm its officers from the Economic Crime Team yesterday met with representatives from Birmingham City FC to discuss concerns raised by the club over alleged financial irregularities in its accounts.
"Following the meeting, officers are now assessing a number of allegations that have been put forward by Birmingham City FC to try and determine whether there are any grounds for a formal police inquiry.
"The force would stress that at this early stage this is not a criminal investigation, merely a preliminary assessment of some information supplied by the club."
The list of bills, for transfers, agents fees, bonuses and taxes, reportedly adds up to around £6million and could rise to £11million by the end of 2009.
Yeung is understood to have made a personal cash injection of £2million in recent days to clear some of the club's debts.