Assurance Services

California Consumer Privacy Act (CCPA) Attestation

This attestation report is designed for the savvy and forward-thinking business owner. By selecting this option, you have a deep understanding of the regulations and have the foresight to be prepared.

Effective January 1, 2020, data protection became a California requirement for its residents. All businesses (even outside of California) that meet their ever-increasing scope are required by law to (1) know what personal information is collected, used, shared, or sold, (2) delete or move personal information, (3) give consumers the ability to opt-out of the sale of personal information, (4) nondiscrimination in terms of price or service when a consumer exercises privacy rights, and (5) hold businesses accountable for failing to take reasonable precautions to protect consumer personal information. Violations of not responding to a California Consumer request is up to $7,500 and data breaches of up to $750 per incident.

Only a licensed CPA firm can provide you with an Attestation report based on the globally recognized Generally Accepted Privacy Principles (GAPP) from the American Institute of Certified Public Accountants (AICPA). Our CCPA Attestation report reviews all 10 GAPP principles while taking into consideration the underlying CCPA requirements.

The CCPA Attestation report will help your business meet the requirement that good faith efforts were made to comply with CCPA, all at a reasonable professional investment. As part of our CCPA Attestation report, we will include the tested sample results and the results from our review of the GAPP matters.

Cyber KROST

With the ever-evolving world of cybersecurity, one of the most significant challenges a company faces is keeping their systems secure and up to date. At KROST, we independently assess your company's cybersecurity risk and offer a tailored approach to meet your cybersecurity needs. We help integrate our knowledge and experience by using either the NIST Cybersecurity Framework or the AICPA Cybersecurity Framework to provide meaningful recommendations.

Data Protection Requirement (DPR) Attestation

Customer retention is key to a successful business. At KROST, we designed this attestation report to help you demonstrate to your largest customers that their data is safe. As regulations for data protection become more strict, this DPR Attestation report will help you meet your customer requirements to do business with them. Learn more about how the regulations have changed » CCPA May Impact Your Business

Only a licensed CPA firm can provide you with an Attestation report based on the globally recognized Generally Accepted Privacy Principles (GAPP) from the American Institute of Certified Public Accountants (AICPA). Our DPR Attestation report reviews all 10 GAPP principles. As part of our DPR Attestation report, we will include the tested sample results and the results from our review of the GAPP matters.

Due Diligence

The due diligence report is for the business owner that wants the power of knowledge. We designed our due diligence report for these sophisticated business owners because you want to understand your potential target acquisition or the vendor supply chain. We provide you with a report that gives you accurate details to make meaningful business decisions.

At KROST, every member of our project team is required to maintain a minimum number of continuing professional education (CPE) hours to ensure that we are up to date on the latest information that impacts you. Further, every assurance and advisory member of the management team is a licensed CPA. Each engagement is reviewed in detail by the principal and a member of KROST's technical management team. We do this because we believe in high quality.

Financial Reporting Framework for Small and Medium-Sized Entities (FRF for SME)

Our checks and balances advisory service is for the business owner that is ready to get out of the accounting trenches. Reporting accurate and timely information is critical to the success of your company, and the best way to ensure that it happens is with proper internal control procedures. We are your solution to ensure that appropriate internal controls are effective and procedures are completed in a timely manner. Our experience with internal controls allows us to identify issues and make recommendations to ensure that your company has appropriate internal control procedures implemented.

At KROST, every member of our project team is required to maintain a minimum number of continuing professional education (CPE) hours to ensure that we are up to date on the latest information that impacts you. Further, every assurance and advisory member of the management team is a licensed CPA. Each engagement is reviewed in detail by the principal and a member of KROST's technical management team. We do this because we believe in high quality.

The FRF for SME is for the creative cost saver. You've selected this attestation report because you understand the complexity of GAAP and IFRS, as well as the ever-expanding covenant and investor financial reporting requirements. This attestation report was designed to reduce that burden.

For privately held businesses that do not require the use of GAAP, the American Institute of Certified Public Accountants (AICPA) created the FRF for SME to alleviate the administrative burden of accounting in accordance with GAAP. Several examples include reporting revenue recognition and leases prior to the adoption of the latest standards and using historical cost for financial items that would normally require fair value (no more 409a valuations or appraisals that cost you more money).

Frequently Asked Question
Will lenders and investors accept financial statements prepared under the FRF for SMEs framework?

Business owners and their CPA practitioner (KROST will do this on our client's behalf) should consult with lenders and investors about the use of the FRF for SMEs framework. Our experience is that lenders accept financial statements using this framework because of the substantial relevance and cost-benefit factors. As accounting standards become more complex, costly, and time-consuming to implement in accordance with GAAP, the FRF for SME will help businesses maintain consistent traditional accounting principles and accrual income tax accounting methods that are familiar to both lenders and investors. The FRF for SME is a reliable accounting framework that provides relevant financial information that is simplified and contains comprehensive accounting principles that have been subjected to professional scrutiny. The best part about FRF for SME is that it was designed to be a cost-saving financial reporting option.

Explore your options, and in the proposal request, mention that you want FRF for SME.

Lease Accounting Advisory

ASC 842 for leases is the latest addition to the ever-growing complexity of GAAP. We designed our Lease Accounting Advisory Service to translate the complexity and help you implement a simplified process. We use financial models to ensure the quality of our service. Our financial models take into consideration all aspects of the new lease accounting standard and will help you complete the financial reporting requirements.

At KROST, every member of our project team is required to maintain a minimum number of continuing professional education (CPE) hours to ensure that we are up to date on the latest information that impacts you. Further, every assurance and advisory member of the management team is a licensed CPA. Each engagement is reviewed in detail by the principal and a member of KROST's technical management team. We do this because we believe in high quality.

You can rely on us to help you through these complex accounting transactions and deliver an accurate project.