KROST Client Lilit Davtyan of Phonexa Awarded CFO of the Year

September 25, 2020By KROST

We would like to extend our congratulations to Lilit Davtyan for receiving the title of Large Private Company CFO of the Year. She received this recognition during the 14th Annual CFO Awards hosted by the Los Angeles Business Journal on September 23, 2020. Lilit is the CFO of one of our valued clients, Phonexa, an … Read More

Coronavirus and Its Impact on Financial Reporting

March 23, 2020By Keith Hamasaki

Nothing has gripped us quite like the Coronavirus (COVID-19). It has begun to affect all facets of life, from travel bans, school closures, meetings, and even financial reporting. Generally Accepted Accounting Principles (GAAP) has an Accounting Standard Codification (ASC) that addresses unforeseen circumstances occurring after the balance sheet date but before the audit is issued. … Read More

KROST Quarterly Magazine: The Technology Issue is Now Available!

March 9, 2020By KROST

We are happy to announce the release of our newest quarterly magazine! The Technology Issue highlights some of the hot topics including trends in media & entertainment, privacy laws, AdTech, quantum computing, and more. What You’ll Find Inside this Issue: Streaming Wars: Technology Trends in Media & Entertainment By Paren Knadjian Tech Company Compensation: Unraveling … Read More

Keith Hamasaki, CPA, Named Co-Chair of the PrimeGlobal Manufacturing & Distribution Special Interest Group

November 4, 2019By KROST

Los Angeles, California – November 4, 2019 – KROST’s Assurance & Advisory Director, Keith Hamasaki, CPA, has been appointed to Co-Chair of the PrimeGlobal Manufacturing & Distribution Special Interest Group (SIG). Keith has been a member of PrimeGlobal since he joined KROST in 2016. As the newly named Co-Chair, he is responsible for bringing together … Read More

CalCPA Los Angeles Chapter Names Keith Hamasaki, CPA, Vice President

October 16, 2019By KROST

Los Angeles, California – July 31, 2019 – Our Assurance and Advisory Director, Keith Hamasaki, CPA has been elected Vice President of the California Society of Certified Public Accountants (CalCPA) Los Angeles Chapter. He joins three other Vice Presidents in the chapter. Keith served as a board member for the CalCPA LA Chapter since 2015 … Read More

Risky Business: Safeguarding Your most Valuable Assets

April 18, 2019By KROST

Below is a preview of one of the articles in the new KROST Quarterly Hospitality Issue, “Risky Business: Safeguarding Your most Valuable Assets” by Steve Chhuor, Manager – Assurance & Advisory. “Most businesses understand that accepting card payments is an option that attracts customers who need a quick and easy payment option. The shift of … Read More

The IRS Recommends Working with a Cybersecurity Professional: Why You Should Heed Their Advice

April 4, 2019By KROST

Consulting with a cybersecurity professional should be a top priority for tax businesses to protect their clients’ data. Tax preparers deal with a large amount of sensitive information including social security numbers, bank account numbers, EINs, etc. This makes them perfect targets for cybercriminals whose main objective is to file fraudulent tax returns. “As cybercriminals … Read More

Mara Garcia, CPA, Nominated for CalCPA’s 2019 Women to Watch

March 19, 2019By KROST

KROST’s Assurance & Advisory Manager, Mara Garcia, CPA, was nominated for CalCPA’s 2019 Women to Watch Award. Mara Delivers Focus, Drive, and a Team Attitude Mara has spent her career translating complex concepts into understandable ideas, so her clients know where they stand in their business. She has successfully helped clients increase efficiencies in business … Read More

New Partnership Audit Rules – “Centralized Partnership Audit Rules”

February 15, 2019By KROST

The 2015 Bipartisan Budget Act brought changes to partnership audit rules beginning with taxable years 1/1/18. Under the old “TEFRA” rules, if an item on a partnership tax return was being audited, the audit would extend to the partners individually. The partner’s individual tax returns would be under audit at that point. Under the new … Read More