Yacob is under contract for another season but has been offered an extension, while McAuley will be a free agent at the end of the month but has also been offered terms to remain at The Hawthorns.
The 35-year-old, who finished the season as a regular under Tony Pulis, is also reported to have been approached by Leicester, who he played for between 2006 and 2008.
While talks with Yacob and McAuley are ongoing, West Brom Director of Football Administration Richard Garlick has warned the club’s supporters not to expect a raft of new signings any time soon.
“This is the quietest month on the football calendar,” he told the club’s official website.
“We are being linked with, quite strongly in some cases, all manner of players from all corners of the globe and the stories are simply not true.
“What I can say is that we have spoken to the agents of Claudio and Gareth and we have now made our offers to them and I’m waiting a response.
“The stories build an expectation of business which the fans feed on and I don’t think that helps us in the long term.
“This time last year we were able to complete on the Craig Gardner deal because he was a free transfer and a great fit for us. We had nothing like that this time around.
“Tony has made it clear that he wants to shake things up so we are not resting on our laurels. But it is important for supporters to stay calm.”
West Brom are closing in on the signing of Real Madrid midfielder Cristian Benavente, according to The Times, but face competition from Galatasaray for Marseille striker Andre Pierre Gignac.