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Thomas Ternus is a seasoned auditor and consultant with 40 years of experience in forensic reviews, litigation support, and financial analysis. He has worked with top companies, including Weatherford International, US Hom, and Tenneco Oil Company, and has a strong background in accounting, internal controls, and financial reporting. He holds a degree in Accounting from Texas A&M University.

Experience

    • Independent Consultant
      • 1984 - Present

      Independent firm specializing in contract compliance review services to oil, gas, royalty owners, refining/petrochemical, power producers, and state/federal agencies.• Over 20 years working as a consultant specializing in forensic reviews, litigation support, joint venture / contract compliance reviews and reverse litigation review.• Increased Trust profits by $120 million by identifying erroneous charges and understated revenue.• Assisted the DOJ in recovering $140 million in claims against various companies.• Designed an Excel/Access program that converted text files to Excel files and allows revenue and overhead charges for over 5,000 wells to be reviewed within five days• Created a program to convert 2 million lines of excel data to be imported into Access.

    • Owner
      • 1986 - 1992

      Long Distance and 1-800 service company. Owner and Operator• Established and operated a long distance telephone company that grew to $1million in sales annually in 18 months without any capital investment.• Design and executed the marketing programs to obtain over 2500 customers.Office Manager• Worked directly with customers providing customer service.• Managed day to day operations and staff including customer contracts and developed strategic relationships with long distance carriers. • Accounted for sales and marketing efforts.Accounting• Maintain the database for 2,500 customers.• Prepared financial reports for the tax accountant.• Prepared monthly payables and receivables repots.

    • Owner
      • 1984 - 1986

      Full service vending company for snacks, drinks, coffee, and frozen foods for the greater Houston area.Owner and Operator• Grew regional based vending company by four times the investment in 2 years.

    • Director of Internal Audit
      • 1980 - 1984

      A $5.7B leading wellbore and production solutions company, providing integrated solutions across well stages and customer domains to the oil and gas industry.• Directed federal law audits to support the review of the Foreign Corruptions Practices Act• Managed teams to audit manufacturing and internal controls for operations, finance and accounting.• Audit teams responsible for quality assurance of aging account payables and receivables, ensure aging items were accurate.

    • Senior Auditor
      • 1978 - 1980

      A leading single family home builder with revenues of $690M. • Responsible for performing financial audits to ensure accounting was performed in accordance with established accounting guidelines.

    • Audit Supervisor
      • 1969 - 1978

      A $7.3B international oil and gas company.• Responsible for internal audits of contractor, forensic, and joint venture/acquisition reviews, and litigation support. • Established a division audit department with a staff of 15 auditors that reduced inventory and cash losses for retail stores by over $1 million per year. • Worked with various police departments and retired Chief of Detective to established controls to reduce inventory and cash losses

    • Captain of United States Air Force – Auditor General
      • 1964 - 1969

      Five years serving on the Auditor General Group Staff, with a focus on auditing aircraft maintenance and supply.

Education

  • 1959 - 1963
    Texas A&M University
    Accounting, Accounting

Suggested Services

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Industry Focus. “Accounting and Auditing”

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