Mitchell & Titus
Encyclopedia
Mitchell & Titus, LLP is a member firm of Ernst & Young Global Limited
and the largest minority-owned accounting firm in the United States. Headquartered in New York City
, the company provides professional services
in assurance, tax, and advisory to Fortune 1000
companies, entrepreneurial enterprises, not-for-profit organizations, financial services firms, government entities, and high net-worth individuals. Mitchell & Titus maintains six offices across six states in New York
, New Jersey
, Pennsylvania
, Maryland
, District of Columbia, and Illinois
.
in 1974, establishing Mitchell & Titus, LLP. In the late 1970s, the firm targeted not-for-profit, community-based organizations receiving federal grants from the Great Society
programs. Among the first large not-for-profit clients were the Economic Commission of Nassau County
(NY), and Recruitment and Training, Inc. of the A. Philip Randolph Institute
.
In 1978, Mitchell & Titus broke new ground by pioneering joint venture projects with the then “Big Eight” accounting firms. The firm entered a joint venture agreement with KPMG
Peat Marwick to conduct New York City's first independent audit. The firm also opened its Washington, D.C. office in 1979 to be better positioned for government contracts. Joint ventures and minority participation contracts attributed to the firm’s growth throughout the late 1980s, during the time when the “Big Eight” became the “Big Six".
division to attract commercial clients and take part in the growing consulting industry.
Mitchell & Titus joined Ernst & Young Global Limited as a member firm in 2006.
strategy to grow their client base and presence around the country.
1984 - Acquired New York
-based accounting firm Stewart, Benjamin and Brown.
1986 - Acquired Philadelphia-based Leevy, Redcross & Co.
2005 - Acquired New Jersey
-based Frye, Williams, & Co.
2009 - Acquired Chicago
-based Hill Taylor LLC.
Ernst & Young
Ernst & Young is one of the largest professional services networks in the world and one of the "Big Four" accountancy firms, along with Deloitte, KPMG and PricewaterhouseCoopers ....
and the largest minority-owned accounting firm in the United States. Headquartered in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
, the company provides professional services
Professional services
Professional services is an industry of infrequent, technical, or unique functions performed by independent contractors or by consultants whose occupation is the rendering of such services....
in assurance, tax, and advisory to Fortune 1000
Fortune 1000
Fortune 1000 is a reference to a list maintained by the American business magazine Fortune. The list is of the 1000 largest American companies, ranked on revenues alone...
companies, entrepreneurial enterprises, not-for-profit organizations, financial services firms, government entities, and high net-worth individuals. Mitchell & Titus maintains six offices across six states in New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
, New Jersey
New Jersey
New Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...
, Pennsylvania
Pennsylvania
The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...
, Maryland
Maryland
Maryland is a U.S. state located in the Mid Atlantic region of the United States, bordering Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware to its east...
, District of Columbia, and Illinois
Illinois
Illinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
.
Early Business
Bert N. Mitchell and Robert Titus formed a partnershipPartnership
A partnership is an arrangement where parties agree to cooperate to advance their mutual interests.Since humans are social beings, partnerships between individuals, businesses, interest-based organizations, schools, governments, and varied combinations thereof, have always been and remain commonplace...
in 1974, establishing Mitchell & Titus, LLP. In the late 1970s, the firm targeted not-for-profit, community-based organizations receiving federal grants from the Great Society
Great Society
The Great Society was a set of domestic programs in the United States promoted by President Lyndon B. Johnson and fellow Democrats in Congress in the 1960s. Two main goals of the Great Society social reforms were the elimination of poverty and racial injustice...
programs. Among the first large not-for-profit clients were the Economic Commission of Nassau County
Nassau County
Nassau County is the name of two counties in the United States:*Nassau County, New York*Nassau County, Florida...
(NY), and Recruitment and Training, Inc. of the A. Philip Randolph Institute
A. Philip Randolph Institute
The A. Philip Randolph Institute is an organization for African American trade unionists.-History:Following passage of the Voting Rights Act, APRI was co-founded in 1965 by A. Philip Randolph and Bayard Rustin...
.
In 1978, Mitchell & Titus broke new ground by pioneering joint venture projects with the then “Big Eight” accounting firms. The firm entered a joint venture agreement with KPMG
KPMG
KPMG is one of the largest professional services networks in the world and one of the Big Four auditors, along with Deloitte, Ernst & Young and PwC. Its global headquarters is located in Amstelveen, Netherlands....
Peat Marwick to conduct New York City's first independent audit. The firm also opened its Washington, D.C. office in 1979 to be better positioned for government contracts. Joint ventures and minority participation contracts attributed to the firm’s growth throughout the late 1980s, during the time when the “Big Eight” became the “Big Six".
EY Relationship
The relationship with Ernst & Young began in the early 1980's with a joint venture relationship, which included the joint audit of the City of New York for many years. In 1986, Mitchell & Titus established a management consultingManagement consulting
Management consulting indicates both the industry and practice of helping organizations improve their performance primarily through the analysis of existing organizational problems and development of plans for improvement....
division to attract commercial clients and take part in the growing consulting industry.
Mitchell & Titus joined Ernst & Young Global Limited as a member firm in 2006.
Growth Through Acquisition
Mitchell & Titus enacted an acquisitionMergers and acquisitions
Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...
strategy to grow their client base and presence around the country.
1984 - Acquired New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
-based accounting firm Stewart, Benjamin and Brown.
1986 - Acquired Philadelphia-based Leevy, Redcross & Co.
2005 - Acquired New Jersey
New Jersey
New Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...
-based Frye, Williams, & Co.
2009 - Acquired Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
-based Hill Taylor LLC.