FGMK provides customized and responsive audit services (as well as other attestation services). Years of experience, exposure to many types and sizes of businesses coupled with FGMK's credibility with our clients' creditors and in our clients' industries are what make our audit practice vibrant and reliable. Constant "re-tooling" of our audit technique and striving for efficiencies in our audit approach while maintaining quality by taking a risk based approach, make our audits well regarded by readers who rely on them.
We maintain our high standards and efficiencies by providing our audit professionals with the latest technology, industry guidance and education, surpassing the requirements of our profession. We take internal quality control review and peer review seriously.
Thoughtful up-front planning, learning our clients' businesses (on our "dime") and understanding the pressure points of our clients and their creditors, enable us to design our audits so that we draw proper conclusions in rendering our opinions. Our process provides our Audit Practice with the ability to meet promised deadlines, stay within budget and avoid surprises.
The Partners of FGMK's Audit Practice draw on their vast experiences and many have come from large accounting firms. At the same time, we pride ourselves on being good business people and not only take a practical approach in designing and performing our audits, but we also provide valuable business advice to our clients.
Armed with these attributes enables us to stay on course and complete our audits on-time with minimal distractions to our clients.
Our Audit Practice provides audits for the following types of organizations:
- Operating businesses
- Investment funds
- Not-for-profits
- HUD insured and under other governmental programs
- Insurance companies
Many business organizations view an audit as a commodity required for their bank, other creditors or governmental units, but we believe that an audit should provide value for the entity in ways beyond obtaining financing and satisfying creditors' requirements. We do not view the audit as an annual event. We are involved with our audit clients throughout the year to understand the events shaping the business cycle. Our proactive involvement enhances the process for the upcoming audit and allows us to add value with sound consulting advice. By focusing on the business operations and its internal controls, our audits give the business owners piece of mind. This audit approach leads into the second discipline of our Audit Practice which is our Risk Management and Compliance Practice.
Risk Management and Compliance Practice
In today's continually changing business environment, which includes the expansion of regulation targeting businesses of all sizes, it is imperative that business owners and their trusted advisors are aware of the evolving risks confronting them. FGMK's team of experienced industry leading professionals is at the forefront of evaluating the impact of these shifting risks confronting businesses and their owners.
As a business grows, the exposure to risk grows with it - EXPONENTIALLY. Furthermore, elements of potential risk can attack from many directions - internally and externally. FGMK has solutions to mitigate risk.
FGMK's Risk Management and Compliance practice professionals can assist by providing a comprehensive risk mitigation plan that centers on three areas:
- Identification of potential risks
- Assessment of actual risks
- Solutions and implementation
Our focus of potential risk areas include, but are not limited to, the following:
- Control environment
- Competition; domestic and foreign
- Information Technology
- Theft and/or Fraud
- Internal Controls
- Operating controls
- eCommerce
- Corporate Governance
- Income tax
- Tax Nexus: multi-jurisdictional Tax Compliance
- Compliance with Generally Accepted Accounting Principles
- ERISA
- Transfer Pricing
- Other Compliance matters - creditors and secured lenders, employment, insurance, unions, payroll tax
Other areas of Governmental regulation
- Financial Statement Audit and Review
- Operational Reviews
- Policy and Procedure Documentation
- Internal Control Reviews and Audits
- Insurance Reviews
- Information Technology Audits
Performing these services can provide better insights into the risks and rewards specific to your business and situation, now and in the future. Many of our clients have relied on us for many years, not only for tax and compliance services, but also for our ability to assist them in assessing risks and planning business decisions.
Our compliance clients come to rely on our availability to discuss issues and concerns with them within hours, not weeks. Our compliance knowledge and experience provides us with the tools to help all of our clients meet their business challenges and goals.