Audit and Attestation Services

For your organization to grow and create value, it must garner the trust of investors, customers, lenders and other stakeholders. Choosing the right firm to audit, review and compile your financial statements is a critical decision in establishing that trust. Fust Charles Chambers LLP is the firm you need to provide the timely, high-quality audit and attestation services required to navigate today’s rapidly changing economic and regulatory landscape.

Our Expertise:
For more than 25 years, Fust Charles Chambers LLP has consistently exceeded client expectations and built a reputation on technical excellence. We maintain the highest standards of professional practice, including an extensive system of quality control that emphasizes independence and objectivity, and control features that exceed our profession’s requirements.

Our professionals offer a wealth of experience and deep industry knowledge in the completion of financial statement audits and other attestation services. We utilize leading-edge technology in the delivery of our services to maximize efficiencies and limit any impact on your daily operations. Plus, as an independent member of the BDO Seidman Alliance, we have access to the national and worldwide resources of the fifth-largest accounting network in the world.

Fust Charles Chambers LLP provides the following audit and attestation services:

• Financial Statement Audits, Reviews and Compilations
• Agreed Upon Procedures
• Financial Statement Preparation
• Regulatory Compliance
• Custody Audits

Closely Held Businesses

Fust Charles Chambers LLP knows that as an owner of a closely held business you are concerned not only with your business operations but also with the ultimate ownership transition of your business. Our closely held business service team consists of professionals with hands on operational experience as well as the tax, accounting and financing expertise and industry knowledge to assist you through startup, growth, maturation and exit phases of your business. Your Fust Charles Chambers team will listen to you, meet with you regularly and understand your goals and objectives. This approach insures the best strategies are provided to assist you in attaining success.

Fust Charles Chambers LLP provides the following services to closely held businesses:

• Startup and growth planning
• Entity structuring analysis
• Shareholder/partner agreement design
• Strategic and business planning
• Cash flow analysis
• Benefit plan consulting
• Assurance services, including audit, review and compilation
• Financial statement preparation
• Projections and forecasts
• Tax planning
• Tax compliance, including tax return preparation
• Technology services
• Mergers and acquisitions
• Business restructuring
• Succession planning or exit strategies, including ESOP planning

Compilation and Review Services

Almost every organization must prepare reports on its financial performance. These reports help owners make operating and resource allocation decisions, enable creditors to evaluate financial worthiness and provide other stakeholders with information to make informed decisions. An audit of an organization’s financial statements is not always required, however users of financial statements still often require some level of assurance over the numbers. Compilations and reviews may be acceptable cost effective alternatives to an audit.

Our Expertise:
For more than 25 years, Fust Charles Chambers LLP has consistently exceeded client expectations and built a reputation on technical excellence. We maintain the highest standards of professional practice, including an extensive system of quality control that emphasizes independence and objectivity, and control features that exceed our profession’s requirements. Our professionals offer a wealth of experience and deep industry knowledge in the completion of financial statement compilations and reviews. We utilize leading-edge technology extensively in the delivery of our services to maximize efficiencies and limit any impact on your daily operations.

We assist our clients with establishing reporting credibility, managing risk and measuring performance, while constantly looking beyond the numbers to uncover hidden value within your operations and internal processes. We take our role as your independent advisors very seriously and are accustomed to interfacing with your banker and other financial oversight groups.

Fust Charles Chambers LLP provides the following compilation and review services:

• Financial Statement Audits, Reviews and Compilations
• Agreed Upon Procedures
• Financial Statement Preparation
• Regulatory Compliance
• Custody Audits

Employee Benefit Plan Assurance & Consulting Services

Employee benefit plan fiduciaries are responsible for selecting an attorney, a third-party administrator or a public accounting firm to complete the plan’s annual financial statement audit. Fiduciaries that do not follow the basic standards of conduct in this endeavor may be personally liable. Given the increasing complexity of  employee benefit plan auditing and heightened scrutiny by the U.S. Department of Labor, a significant number of changes and issues  for accounting firms conducting employee benefit plan audits has  occurred. As a result, a fiduciary must be sure that they are  engaging a qualified, reputable and experienced service provider.

Our Expertise

For more than 25 years, Fust Charles Chambers LLP has consistently exceeded client expectations and built a reputation on  technical excellence. We have proven experience working with  businesses of various legal entity types, sizes and industries.  Currently, we audit over 75 employee benefit plans with assets starting at $1 million and in excess of $100 million. We maintain  the highest standards of professional practice, including an  extensive system of quality control that emphasizes independence  and objectivity, and control features that exceed our profession’s  requirements.

Fust Charles Chambers LLP is a member of the American Institute  of Certified Public Accountants’ Employee Benefit Plan  Audit Quality Center (EBPAQC). The Center is a voluntary  membership organization that was established to promote the  quality of employee benefit plan audits. As a member of the  EBPAQC, we gain access to comprehensive resources that will assist us in further enhancing the quality of your employee benefit  plan audit.

Fust Charles Chambers LLP personnel are experienced at providing assurance and consulting services to the following plans:

• Defined Benefit Plans
• Defined Contribution Plans including 401(k) and 403(b)
• Health & Welfare Plans
• Plans requiring 11-K Securities and Exchange Commission Filings

ESOP Services

ESOP Services

The importance of ownership transition plans in the life cycle of a business is a priority that cannot be underemphasized. Choosing the right firm to perform your audit and attestation services, and complete tax planning, consulting and tax compliance services is a critical decision in maintaining the trust of your employee owners, lenders and other stakeholders. Fust Charles Chambers LLP is a firm that understands the challenges and benefits that employee ownership provides.

Our Expertise

For more than 25 years, Fust Charles Chambers LLP has consistently exceeded client expectations and built a reputation on technical excellence. We maintain the highest standards of professional practice and take our role as your independent advisor very seriously. We provide education and guidance to clients on ESOP structures to meet their goals and objectives. We will be important members of your team of ESOP advisors because we understand the complex regulatory, tax, and financial considerations involved with ESOPs. We work closely with valuation professionals to ensure timeliness in the valuation process, in order to expedite the issuance of your financial statements. We work closely with trustees and legal professionals to complement your ESOP structure with unique tax benefits. We are accustomed to interfacing with your banker and other financial oversight groups and often educate them on the important aspects of your employee ownership.

Fust Charles Chambers LLP provides the following services to ESOP companies:

• Financial Statement Audits, Reviews and Compilations
• Agreed Upon Procedures
• Financial Statement Preparation
• Employee Benefit Plan Assurance and Consulting Services
• Planning of Multiple Phase ESOP Transactions
• Mergers, Acquisitions and Business Restructuring Services
• Tax Controversy and Tax Audit Support Services
• Estate, Gift and Trust Consulting and Return Preparation
• Business and Individual Tax Preparation and Planning

Financial Institutions

How you plan for your taxes and report them can have a big effect on the balance sheet you provide to your shareholders and regulators. In the current environment, the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Internal Revenue Service (IRS) are all taking special notice. Our experienced and knowledgeable tax professionals will proactively work with your management team throughout the year to develop customized solutions and approaches that focus on minimizing your bank’s tax burden, while ensuring that you are in compliance with IRS regulations.

Fust Charles Chambers LLP provides the following financial institutions services:

• Bank and Other Financial Institution Tax Preparation and Planning
• Federal and State Bank Tax Minimization
• Information Reporting Diagnostics
• FAS 109 and Accounting for Income Taxes Advisory Services
• Merger and Acquisition Services
• Financial Institution Tax Audit Support Services
• Information Security Services
• Cost Segregation Studies for Branch Acquisitions and New Construction

Healthcare

Healthcare has become more complex with legislation, changing government reimbursement and the future expectations of providing services to the increasing elderly population. We are committed to assisting your needs in this ever-changing healthcare environment. Our healthcare practice includes  large academic medical centers, sole community hospitals, critical access hospitals, other acute care facilities, skilled nursing facilities, assisted and independent living facilities, community based providers, physician groups and other healthcare organizations.

Our Expertise

We have one of the largest  healthcare certified public accounting firm practices in the Northeast and consistently demonstrate our ability to provide unparalleled healthcare expertise to our clients. Our Firm is considered a thought leader in the healthcare industry. Our Firm provides audit, tax,  reimbursement and advisory services to  over 150 healthcare and healthcare-related organizations. This knowledge base means that we understand your business and can begin to immediately add value upon being named your service provider. We currently serve healthcare providers that have net revenue ranging from $6 million to approximately $1 billion.

Fust Charles Chambers LLP provides the following services to healthcare providers:

• Financial Statement Audits
• Employee Benefit Plan Audits
• Management Planning, Reporting and Control Systems
• Mergers, Acquisitions and Organizational Restructuring Services
• Tax Planning and Compliance
• Corporate Governance
• Medicare, Medicaid and other Payors Reimbursement and Rate Setting Analyses
• Reimbursement Optimization Strategies
• Cost Report Preparation
• Revenue Cycle Analysis and Best Practices
• Corporate Compliance Services
• Feasibility Studies
• Debt Capacity Studies
• Internal Audit Services
• Litigation Support
• Board Education

Hospitality

The hospitality industry includes many segments within the service industry such as lodging and restaurants. A hospitality unit, such as a hotel or restaurant consists of a variety of groups requiring special attention, including facility maintenance, management, marketing, human resources and operations (housekeepers, servers and kitchen workers). Competition is ever present, as niche markets develop to serve the customer base. Access to financing can be very demanding depending on market conditions. Your Fust Charles Chambers service team is experienced in working with lodging/restaurant businesses. In addition to financial reporting and accounting, tax planning and compliance and audits, reviews and compilations, we offer many services to our hospitality clients to help maximize cash flow.

Fust Charles Chambers provides the following hospitality services:

• Cost Segregation Studies to Maximize Depreciation Income Tax Deductions
• Green Energy Tax Services
• Entity Structuring Analysis
• Internal Control Studies
• Cash Flow Projections
• Debt Restructuring
• Mergers, Acquisitions, and Business Restructuring
• Projections and Forecasts
   

International Tax Planning, Consulting and Compliance Services

Comprehensive International Tax Planning, Consulting and Compliance are keys to any successful company’s strategic plan. To operate effectively in today’s global marketplace, businesses and individuals need international tax advisors that understand the complexities of cross border business and  transactions. We work with our client base of U.S. investors in foreign countries (outbound) and foreign investors in U.S businesses (inbound) to address tax issues involving Europe, Asia, South America, neighboring Canada and Mexico and elsewhere in the world.

Our Firm has chosen to be a part of the BDO Seidman Alliance. This allows us to access resources from BDO International Ltd. to assist in providing the highest level of international tax services. BDO International Ltd. is a worldwide network of public accounting firms that operate in 119 countries through a network of approximately 1,080 offices. These firms are linked by common work standards and practices. In addition, we have designated individuals that work regularly with worldwide network members and the U.S. international tax group to combine their specialized tax knowledge with our client specific knowledge. Our experienced and knowledgeable tax professionals will proactively work with you, your management team and members of BDO International, Ltd. throughout the year to develop creative and customized solutions to minimize your tax burden.

Our Expertise

For more than 25 years, Fust Charles Chambers LLP has consistently exceeded client expectations and built a reputation on technical excellence. We have proven experience working with businesses of various legal entity types, sizes and industries. Our professionals focus on keeping our clients  informed of new opportunities and continue to assist them throughout the year in meeting the challenges that they encounter as they navigate today’s complex business and tax environment.

Our membership in the BDO Seidman Alliance, affords us, and you, the opportunity to leverage vast resources to help you achieve your business objectives.

Fust Charles Chambers LLP provides the following international tax planning, consulting and compliance services:

• Guidance and basic structuring for outbound U.S. companies: choosing between branch and subsidiary regimes; tax-efficient acquisitions, joint venture structuring and utilization of foreign losses.
• Guidance and basic structuring for non-U.S. companies and individuals on appropriate structures of inbound investment in various U.S. businesses and real estate.
• Risk management and compliance: transfer pricing reviews, compliance and reporting.

Manufacturing Distribution and Retail

Industrial manufacturers, distributors and retailers operate in an extremely competitive world. Companies are struggling with excess production capacity, volatile debt and equity markets, weakened consumer demand and changing demographics. This industry sector seeks to find stability and growth from emerging markets, streamlined business models, low-risk cost structures, and product innovation. These industries represent one of the largest segments of our client base. Our experience spans from startup entities to complex global organizations. Our professionals focus on identifying leading practices and opportunities to assist our clients in meeting today’s and tomorrow’s challenges. With our personalized approach, strong technical expertise and uncompromising integrity, we offer a solutions-oriented approach to our clients.

Fust Charles Chambers LLP provides the following manufacturing, distribution and retail services:

• Financial Statement Audits, Reviews and Compilations
• Management Planning, Reporting and Control Systems
• Mergers, Acquisitions and Business Restructuring Services
• Business Succession Planning
• Tax Planning and Compliance
• Multi-state Income, Franchise Tax and Nexus Planning
• International Tax Services, including Transfer Pricing Studies
• Grant and Incentive Identification
• Corporate Governance
• Employee Benefit Plan Services
• Cost Segregation Studies
• Research and Development Credit Studies
• Financial Projections and Operating Budgets
• Asset-based Financing and other Credit Facilities
• Business Advisory Services

Merger and Acquisition Services

The true driver of value in successful transactions rests in the ability to make real time decisions based on timely information gathered through the due diligence process. Mergers and acquisitions may not succeed for many reasons, including the difficulties of overcoming the practical challenges and loss of revenue when day-to-day operations are being neglected. While executing a merger or acquisition transaction can be a daunting task, it can also be a successful and highly rewarding one. Thorough due diligence processes and meticulous planning can make a huge difference in the outcome. Fust Charles Chambers LLP uses a team that includes tax professionals and accountants that know and understand the deal making process.

Our Expertise:
For more than 25 years, Fust Charles Chambers LLP has consistently exceeded client expectations and built a reputation on technical excellence. We can offer you experienced deal structuring and financing advice at all points throughout the deal cycle. In addition to our tax specialists, our accountants in our transaction services and due diligence group will work with you and your management as a deal team.

As an independent member of the BDO Seidman Alliance, we have access to the national and worldwide resources of the fifth largest accounting network in the world. This Alliance affords us, and you, the opportunity to leverage vast resources to best help you to achieve your business objectives. Our deep experience, strong international network and commercial focus allow us to add real financial value to transactions.

Fust Charles Chambers LLP provides the following merger and acquisition services:

• Document Review
• Negotiation and Closing Issues
• Tax Consulting and Structuring
• Financial and Tax Due Diligence
• Post-Merger Integration Plans
• Business Valuations
• Purchase Price Allocations

Not-For-Profit Organizations

Fust Charles Chambers LLP has a significant presence in the not-for-profit industry. Our client organizations range in structure and complexity from stand-alone organizations to not-for-profit networks with group of affiliates. This extensive client base requires that we remain up-to-date with current accounting and business trends that directly affect not-for-profit organizations. We assist our not-for-profit clients in addressing their challenges, particularly as they relate to governance structure. These may include the role of the finance/audit committee, cash management procedures, internal controls that address economic and regulatory risk, conflicts of interest, and fulfillment of their mission and vision. Our not-for-profit team has unmatched depth, experience and resources in assurance and tax compliance and advisory services to best serve your organization.

Fust Charles Chambers LLP provides the following not-for-profit organizations services:

• Financial Statement Audits, Reviews and Compilations
• Financial Statement Preparation
• Tax Planning and Compliance
• Management Planning, Reporting and Control Systems
• Regulatory Compliance
• Business Advisory Services

Professional Service Firms

Tax Planning Consulting and Compliance Services

Proactive tax planning and integrated tax compliance are keys to any successful company’s strategic plan.

It’s not about filing a tax return or meeting a tax deadline. It is about planning, researching and identifying our clients’ best opportunities. It is about taking advantage of the current tax laws and incentives. It is about you, your business and your money. Our experienced and knowledgeable tax professionals will proactively work with you and your management team throughout the year to develop creative and customized solutions to minimize your tax burden.

Our Expertise

For more than 25 years, Fust Charles Chambers LLP has consistently exceeded client expectations and built a reputation of technical excellence. We have proven experience working with businesses of various legal entity types, sizes and industries. Our professionals focus on keeping our clients informed of new opportunities and continue to assist them throughout the year in meeting the challenges that they encounter as they navigate today’s complex business and tax environment.

As an independent member of the BDO Seidman Alliance, we have access to the national and worldwide resources of the fifth largest accounting and consulting network in the world. This Alliance affords us, and you, the opportunity to leverage vast resources to best help you to achieve your business objectives.

Fust Charles Chambers LLP provides the following tax planning, consulting and compliance services:

• Business, Individual and Not-For-Profit Tax Preparation and Planning
• Start-up and Entity Structure Analysis
• Multi-state Income, Franchise Tax and Nexus Planning
• International Tax Services, including Transfer Pricing Studies
• Mergers, Acquisitions and Business Restructuring Services
• Tax Controversy and Tax Audit Support Services
• Estate, Gift and Trust Consulting and Return Preparation
• Business Succession Planning
• Cost Segregation Studies
• Research and Development Tax Credit Studies

Technology and Emerging Enterprises

Any one of your decisions can be critical in determining your future success when trying to gain momentum at the early stages of your business, or keeping momentum amidst ever-changing technologies. Your success is not about preparing a financial statement or filing a tax return, it is about having resources to pursue and develop your business model. Our experienced team of professionals will work with you throughout the year to help you leverage opportunities that surround you and minimize complexities that your business will face. We will assist you in applying the correct revenue recognition policies and appropriate state tax nexus rules.

Fust Charles Chambers LLP provides the following technology and emerging enterprises services:

• Budgeting and Cash Flow Planning
• Start-up and Growth Planning
• Financial Statement Audits, Reviews and Compilations
• Tax Planning and Tax Return Preparation
• Entity Structuring
• Regulatory Compliance
• Business Advisory Services