COSO Based Methodology
Titus is providing consulting service for a nationally recognized fast food industry leader, with locations all over the world.  Due to confidentiality agreement, we are unable to divulge the name of the client, but are allowed to provide an overview of the solution. As the engagement manager, Titus provided a comprehensive COSO based methodology to audit both franchise and company owned stores. The audits are comprehensive resulting in financial, operational, and compliance (franchise agreement) program steps to be included within the scope of each audit. Titus has overall responsibility for the oversight and execution of this engagement, including timing, store notification, regional staff collaboration, audit execution, audit supervision and reporting.

Internal Control Reviews
Titus was engaged to conduct an internal control review of the remote operations, both domestically and internationally, for a large publicly traded manufacturer. Special emphasis was placed on the sales, inventory, purchasing, and payroll cycles. Titus received one trial engagement from this manufacturer to compare the quality of our professionals and reports to a “Big Four” accounting firm. Our initial engagement expanded to an exclusive IA teaming solution between Titus and the manufacturer. Special recognition was given to Titus on the quality of our reporting and the value of the observations made to improve both internal controls and operations.

Sarbanes-Oxley Act Compliance
Titus has assisted numerous Fortune 500 clients in all aspects of compliance with Section 404 of the Sarbanes Oxley Act. This includes selection of SOX tools, planning, document testing, and remediation. Titus has assisted these clients both domestically as well as internationally.

Sarbanes-Oxley Act 404 Project Management
A large Midwest utility turned to Titus for a SOX Project Manager. Our internal audit professional evaluated software tools for SOX compliance and reported the results to management, inventoried the formal documentation of policies and procedures that already existed, assisted with the development of an overall risk-based framework for SOX compliance, and created a complete implementation plan.

Internal Audit Teaming/Co-Sourcing
In all three of Titus’ core markets, large publicly traded companies have drawn upon the firm’s experienced internal audit resources to perform portions of their annual internal audit plans. Some of these projects have included: warranty and returned goods audits, audit command language (ACL) support, retail store audits, plant operational audits, and information technology auditing. Our experience, affordability, and passion to exceed our client’s expectations have allowed us to develop an outstanding IA practice within our firm.

Establishing an Internal Audit Function
A large publicly traded service company turned to Titus to help them establish an internal audit function. Titus met and interviewed key personnel, performed a risk assessment, ranked the various risks, developed an internal audit charter, developed a phased internal audit plan based on the organization’s budget parameters, and staffed the initial department.

Investment Due Diligence
A large publicly traded manufacturing company engaged Titus to work with their acquisition team. Titus was responsible for all accounting, auditing, and financial procedures for this acquisition. The procedures included looking at selected balance sheets, observing the physical inventory count, testing for unrecorded liabilities, and interviewing management. Titus professionals discovered issues that resulted in a $6 million reduction of the purchase price of the acquisition.

HR Compliance Audit
A large organization engaged Titus to perform an internal audit of their various benefit plans. They had recently gone through some downsizing and wanted to be sure that eligibility as well as other critical controls were in place. Titus found several significant deficiencies in their providers invoices which resulted in over 60K in savings for our client.