Geoff Fulton is fascinated with process. He can visualize the cogs in the machinery of business turning -- see how the funds and the materials flow through the business -- and isolate the points of weakness. Weakness in business process can yield waste, inferior products, even open the door to misappropriation of funds.
Robust business processes and painstaking internal controls are hallmarks of well-run organizations.
Non-Profits
Non-profit organizations are the most common requesters of audits, because certified audits are almost always required to receive grants and other forms of funding.
An audit performed by Fulton & Kozak CPAs can result in a compiled financial statement and the documentation required to secure the funding, or it can extend to creating policies and procedures for the organization.
Yearly reviews for non-profits yield continued process improvements.
The bottom line for non-profits: better stewardship of the money entrusted to you and the financial wherewithall to make a difference.
Outside Investors and Funding Sources
For businesses seeking funding from traditional sources like banks or through outside investors, annual audits are often a requirement in order to receive funding.
Since outside investors are rarely involved in the day-to-day activities of the business they are funding, audits offer assurance that the business is being run well and that the officers are diligent and competent.
Licensed Industries
Some industries require licensing by the state, and the licensing requirements include some form of certified financial review.
Fulton & Kozak CPAs work with businesses like these - especially building contractors - to perform the required reviews, recommend process improvements and create procedures that uphold licensing requirements.
Internal Controls
Agencies and corporations that operate in the public sector often require a third party to review financial practices and confirm that their funds are being spent wisely and with purpose.
Fulton & Kozak CPAs audit team will conduct a thorough examination of the financial records in question, determine if the money is being managed correctly and suggest internal controls to ensure proper management for the future.
