Business Context and Reporting Period
Company: KINGSTONE COMPANIES, INC. (KINS)
Filing Type: Form 8-K (Current Report)
Date of Report: April 8, 2025
Reporting Period: This filing reports on events occurring on April 8, 2025, regarding a change in the registrant's certifying accountant. It references the fiscal years ended December 31, 2024, and 2023.
Key Financial Metrics
This Form 8-K filing does not contain financial performance data. There are no disclosures regarding revenue, profit, cash flow, margins, debt, or liquidity in this document.
Material Changes
- Resignation of Former Auditor: Marcum LLP resigned as the independent registered public accounting firm on April 8, 2025. The resignation was necessitated by the acquisition of Marcum's attest business by CBIZ CPAs P.C. on November 1, 2024.
- Appointment of New Auditor: On April 8, 2025, the Audit Committee engaged CBIZ CPAs P.C. as the new independent registered public accounting firm.
- Audit History: The audit reports issued by Marcum for the fiscal years ended December 31, 2024, and 2023, were unqualified and did not contain adverse opinions, disclaimers, or modifications regarding uncertainty, scope, or accounting principles.
Guidance, Outlook, and Risks
Management Commentary: The filing confirms that there were no "disagreements" or "reportable events" between the Company and Marcum LLP during the fiscal years 2023 and 2024, or the subsequent period through April 8, 2025.
Consultations: The Company did not consult with CBIZ regarding accounting principles, audit opinions, or reportable events prior to their engagement.
Risks and Contingencies: No specific financial risks or contingencies are detailed in this filing. The primary operational change is the transition of audit services.
Investor Verification Checklist
- Verify the transition timeline between Marcum LLP and CBIZ CPAs P.C. to ensure no gap in audit coverage.
- Review the letter from Marcum LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the lack of disagreements.
- Monitor future filings (e.g., 10-K or 10-Q) for the initial audit opinion issued by CBIZ.
- Confirm that the acquisition of Marcum by CBIZ did not impact the independence or scope of the prior audits for 2023 and 2024.