diff --git a/CMakeLists.txt b/CMakeLists.txt
index dcc54309..519233cb 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -7,7 +7,8 @@ cmake_minimum_required(VERSION 3.1)
 #---------------------------------------------------------------------------------------
 # Start spdlog project
 #---------------------------------------------------------------------------------------
-include(cmake/version.cmake)
+include(cmake/utils.cmake)
+spdlog_extract_version()
 project(spdlog VERSION ${SPDLOG_VERSION} LANGUAGES CXX)
 message(STATUS "Build spdlog: ${SPDLOG_VERSION}")
 
@@ -49,7 +50,6 @@ option(SPDLOG_FMT_EXTERNAL "Use external fmt library instead of bundled" OFF)
 
 message(STATUS "Build type: " ${CMAKE_BUILD_TYPE})
 
-
 find_package(Threads REQUIRED)
 
 #---------------------------------------------------------------------------------------
@@ -63,6 +63,7 @@ target_include_directories(spdlog PUBLIC
         "$<BUILD_INTERFACE:${CMAKE_CURRENT_LIST_DIR}/include>"
         "$<INSTALL_INTERFACE:${CMAKE_INSTALL_INCLUDEDIR}>")
 target_link_libraries(spdlog PUBLIC Threads::Threads)
+spdlog_enable_warnings(spdlog)
 
 #---------------------------------------------------------------------------------------
 # Header only version
@@ -75,19 +76,6 @@ target_include_directories(spdlog_header_only INTERFACE
         "$<INSTALL_INTERFACE:${CMAKE_INSTALL_INCLUDEDIR}>")
 target_link_libraries(spdlog_header_only INTERFACE Threads::Threads)
 
-#---------------------------------------------------------------------------------------
-# Turn on compiler warnings and sanitizers if we build our own project
-#---------------------------------------------------------------------------------------
-if(SPDLOG_MASTER_PROJECT)
-    if (CMAKE_CXX_COMPILER_ID MATCHES "GNU|Clang|AppleClang")
-        target_compile_options( spdlog PRIVATE -Wall -Wextra -Wconversion -pedantic -Wfatal-errors)
-    endif()
-    if (CMAKE_CXX_COMPILER_ID MATCHES "MSVC")
-        target_compile_options( spdlog PRIVATE /W3 /WX )
-    endif()
-
-    include(cmake/sanitizers.cmake)
-endif()
 
 #---------------------------------------------------------------------------------------
 # use fmt package if using exertnal fmt
diff --git a/bench/CMakeLists.txt b/bench/CMakeLists.txt
index 6457a89d..d087cf66 100644
--- a/bench/CMakeLists.txt
+++ b/bench/CMakeLists.txt
@@ -13,6 +13,7 @@ find_package(Threads REQUIRED)
 find_package(benchmark CONFIG REQUIRED)
 
 add_executable(bench bench.cpp)
+spdlog_enable_warnings(bench)
 target_link_libraries(bench PRIVATE spdlog::spdlog)
 
 add_executable(async_bench async_bench.cpp)
diff --git a/cmake/sanitizers.cmake b/cmake/sanitizers.cmake
deleted file mode 100644
index 3b090835..00000000
--- a/cmake/sanitizers.cmake
+++ /dev/null
@@ -1,21 +0,0 @@
-if(SPDLOG_SANITIZE_THREAD AND SPDLOG_SANITIZE_ADDRESS)
-    message(FATAL_ERROR "AddressSanitizer is not compatible with ThreadSanitizer.")
-endif()
-
-if(SPDLOG_SANITIZE_ADDRESS)
-    message(STATUS "AddressSanitizer enabled")
-    set(SANITIZER_FLAGS "-fsanitize=address,undefined")
-    add_compile_options("-fno-sanitize=signed-integer-overflow")
-endif()
-
-if(SPDLOG_SANITIZE_THREAD)
-    message(STATUS "ThreadSanitizer enabled")
-    set(SANITIZER_FLAGS "-fsanitize=thread")
-endif()
-
-if(SPDLOG_SANITIZE_THREAD OR SPDLOG_SANITIZE_ADDRESS)
-    add_compile_options(${SANITIZER_FLAGS})
-    add_compile_options("-fno-sanitize-recover=all")
-    add_compile_options("-fno-omit-frame-pointer")
-    set(CMAKE_EXE_LINKER_FLAGS "${CMAKE_EXE_LINKER_FLAGS} ${SANITIZER_FLAGS} -fuse-ld=gold")
-endif()
diff --git a/cmake/utils.cmake b/cmake/utils.cmake
new file mode 100644
index 00000000..5ed8f9ce
--- /dev/null
+++ b/cmake/utils.cmake
@@ -0,0 +1,41 @@
+# Get spdlog version from include/spdlog/version.h and put it in SPDLOG_VERSION
+function(spdlog_extract_version)
+	file(READ "${CMAKE_CURRENT_LIST_DIR}/include/spdlog/version.h" file_contents)
+	string(REGEX MATCH "SPDLOG_VER_MAJOR ([0-9]+)" _  "${file_contents}")
+	set(ver_major ${CMAKE_MATCH_1})
+
+	string(REGEX MATCH "SPDLOG_VER_MINOR ([0-9]+)" _  "${file_contents}")
+	set(ver_minor ${CMAKE_MATCH_1})
+	string(REGEX MATCH "SPDLOG_VER_PATCH ([0-9]+)" _  "${file_contents}")
+	set(ver_patch ${CMAKE_MATCH_1})
+
+	if (NOT ver_major OR NOT ver_minor OR NOT ver_patch)
+		message(FATAL_ERROR "Could not extract valid version from spdlog/version.h")
+	endif()
+	set (SPDLOG_VERSION "${ver_major}.${ver_minor}.${ver_patch}" PARENT_SCOPE)    
+endfunction()
+
+
+# Turn on warnings on the given target 
+function(spdlog_enable_warnings target_name)
+	if (CMAKE_CXX_COMPILER_ID MATCHES "GNU|Clang|AppleClang")
+		target_compile_options(${target_name} PRIVATE -Wall -Wextra -Wconversion -pedantic -Wfatal-errors)
+	endif()
+	if (CMAKE_CXX_COMPILER_ID MATCHES "MSVC")
+		target_compile_options(${target_name} PRIVATE /W4 /WX )
+	endif()	
+endfunction()
+
+
+# Enable address sanitizer (gcc/clang only)
+function(spdlog_enable_sanitizer target_name)	
+	if (NOT CMAKE_CXX_COMPILER_ID MATCHES "GNU|Clang")
+		message(FATAL_ERROR "Sanitizer supported only for gcc/clang")
+	endif()
+	message(STATUS "Address sanitizer enabled")		
+	target_compile_options(${target_name} "-fsanitize=address,undefined")
+	target_compile_options(${target_name} "-fno-sanitize=signed-integer-overflow")	
+	target_compile_options(${target_name} "-fno-sanitize-recover=all")
+	target_compile_options(${target_name} "-fno-omit-frame-pointer")
+	target_link_libraries(${target_name} "-fsanitize=address,undefined -fuse-ld=gold")
+endfunction()
\ No newline at end of file
diff --git a/cmake/version.cmake b/cmake/version.cmake
deleted file mode 100644
index 4f3f0360..00000000
--- a/cmake/version.cmake
+++ /dev/null
@@ -1,16 +0,0 @@
-#---------------------------------------------------------------------------------------
-# Get spdlog version from include/spdlog/version.h
-#---------------------------------------------------------------------------------------
-file(READ "${CMAKE_CURRENT_LIST_DIR}/../include/spdlog/version.h" SPDLOG_VERSION_FILE)
-string(REGEX MATCH "SPDLOG_VER_MAJOR ([0-9]+)" _  "${SPDLOG_VERSION_FILE}")
-set(ver_major ${CMAKE_MATCH_1})
-
-string(REGEX MATCH "SPDLOG_VER_MINOR ([0-9]+)" _  "${SPDLOG_VERSION_FILE}")
-set(ver_minor ${CMAKE_MATCH_1})
-string(REGEX MATCH "SPDLOG_VER_PATCH ([0-9]+)" _  "${SPDLOG_VERSION_FILE}")
-set(ver_patch ${CMAKE_MATCH_1})
-
-if (NOT ver_major OR NOT ver_minor OR NOT ver_patch)
-    message(FATAL_ERROR "Could not extract valid version from spdlog/version.h")
-endif()
-set (SPDLOG_VERSION "${ver_major}.${ver_minor}.${ver_patch}")    
\ No newline at end of file
diff --git a/example/CMakeLists.txt b/example/CMakeLists.txt
index 994051f9..1f22b990 100644
--- a/example/CMakeLists.txt
+++ b/example/CMakeLists.txt
@@ -13,12 +13,14 @@ endif()
 # Example of using pre-compiled library
 #---------------------------------------------------------------------------------------
 add_executable(example example.cpp)
+spdlog_enable_warnings(example)
 target_link_libraries(example spdlog::spdlog)
 
 #---------------------------------------------------------------------------------------
 # Example of using header-only library
 #---------------------------------------------------------------------------------------
 add_executable(example_header_only example.cpp)
+spdlog_enable_warnings(example_header_only)
 target_link_libraries(example_header_only spdlog::spdlog_header_only)
 
 # Create logs directory
diff --git a/tests/CMakeLists.txt b/tests/CMakeLists.txt
index a59cf07b..b4192e79 100644
--- a/tests/CMakeLists.txt
+++ b/tests/CMakeLists.txt
@@ -21,13 +21,22 @@ enable_testing()
 # The compiled library tests
 if(SPDLOG_BUILD_TESTS)
     add_executable(spdlog-utests ${SPDLOG_UTESTS_SOURCES})
+	spdlog_enable_warnings(spdlog-utests)
     target_link_libraries(spdlog-utests spdlog)
-    add_test(NAME spdlog-utests COMMAND spdlog-utests)
+	if(SPDLOG_SANITIZE_ADDRESS)
+		spdlog_enable_sanitizer(spdlog-utests)
+	endif()
+    add_test(NAME spdlog-utests COMMAND spdlog-utests)	
+	
 endif()
 
 # The header-only library version tests
 if(SPDLOG_BUILD_HO_TESTS)
     add_executable(spdlog-utests-ho ${SPDLOG_UTESTS_SOURCES})
+	spdlog_enable_warnings(spdlog-utests-ho)
     target_link_libraries(spdlog-utests-ho spdlog::spdlog_header_only)
+	if(SPDLOG_SANITIZE_ADDRESS)
+		spdlog_set_address_sanitizer(spdlog-utests-ho)
+	endif()
     add_test(NAME spdlog-utests-ho COMMAND spdlog-utests-ho)
 endif()
\ No newline at end of file