Financial Statement Audits

Staffed by professionals who take the time to know and understand each client, Fouts & Morgan has helped a range of clients identify savings opportunities and find efficiencies in operations and accounting that help to streamline performance, while clearing the path for growth. Whether seeking to restructure operations, or to identify new strategies to increase profitability, we can help.

We tailor our service approach to suit the specifics of each client’s business. With experienced CPAs and staff, we work collaboratively with key client stakeholders, and develop meaningful insights that clarify business results, enhance communications with partners, bankers, and other funders, and enable management to make better-informed decisions.

Fouts & Morgan auditors help clients to:

  • Focus on information critical to meeting organizational goals
  • Give lenders confidence in financial statements
  • Work with potential buyers and sellers
  • Provide management and investors with information necessary to make well-informed decisions
  • Focus on key performance measures and results
  • Provide clear information for boards to carry out their fiduciary responsibilities
  • Identify ways to increase the efficiency of accounting and business practices
  • Improve internal controls to protect organization assets
  • Gain understanding of accounting and reporting requirements

Reviews and Compilations

Fouts & Morgan approaches each new engagement with an open mind, assessing client needs objectively to reach unbiased findings and inform clear, powerful, and actionable recommendations.

During our preliminary review, we evaluate and analyze each client’s records to determine what is working well and where there’s room for improvement, and to gain a clear understanding of the scope of the engagement. In many cases, a full audit is unnecessary, allowing us to advocate for a less resource-intensive review or compilation report. This approach allows us to serve client needs, while saving valuable time and money for other endeavors. 

Our team scales these services to meet client needs, offering expertise in:  

  • Financial statement review or compilation
  • Internal control advice
  • State, local, and international tax expertise
  • Business and asset valuations
  • Succession planning
  • Agreed-Upon Procedures

An attestation service, AUP provides you with accountant-performed, objective procedures that you help create. Based on your need, we work with you to establish the testing procedures you need to satisfy your board of directors, bank, regulatory body, or other third party. They can have confidence in the findings, knowing that an independent company has performed the procedures.

Our team can help you with:

  • Inventory counts and price checks
  • Trust department compliance testing
  • Due diligence when buying or selling a business
  • Compliance with agreements or contracts
  • Uniform Guidance Audits

For entities dependent on government grants, single audits are a necessity. Your Fouts & Morgan team has the experience and expertise to complete them efficiently, thoroughly, and collaboratively, while helping you bridge the gap between programmatic and financial compliance requirements.

Our experienced team of professionals works closely with business officers and program managers to provide high-quality Uniform Guidance audits. 

We offer clients:

  • A proven track record. We have audited a wide variety of programs under the Uniform Guidance which has allowed us to develop a streamlined process for testing compliance requirements.
  • Dedicated staff with cross-disciplinary experience. The intentional overlap of key staff between financial statement audits and the Uniform Guidance audits allows for a quick transfer of institutional knowledge and a more effective compliance audit experience.
  • Current credentials and industry insights. We stay on the forefront of changing audit compliance requirements and make it our business to share information with our clients, so they understand the changes well ahead of their implementation date.