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- Material Weakness (new) — Internal controls contained material weakness due to missing SOC 1 Type 2 reports for insurance quoting platform and general ledger system, resulting in adverse auditor opinion.
Kingstone switches to Deloitte after adverse internal control opinion on missing SOC reports
Filed August 24, 2026 · Period ending August 18, 2026 · ~1 min read
Key Changes
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CBIZ CPAs issued adverse opinion on internal controls for 2025 due to material weakness: company lacked SOC 1 Type 2 reports for insurance quoting platform and general ledger system, meaning no third-party validation of controls over critical systems.
Item 4.01 — Changes in Registrant's Certifying Accountant verify on EDGAR → -
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Company dismissed CBIZ CPAs and engaged Deloitte effective August 18, 2026. Audit Committee cited Deloitte's insurance practice expertise and resources. No disagreements with CBIZ on accounting or auditing matters; financial statement audit opinion was unqualified.
Item 4.01 — Changes in Registrant's Certifying Accountant verify on EDGAR → -
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Second auditor change in under two years: CBIZ became auditor April 2025 after acquiring Marcum's attest business, served 16 months before dismissal.
Item 4.01 — Changes in Registrant's Certifying Accountant verify on EDGAR →
Summary
Kingstone switched auditors to Deloitte after CBIZ CPAs issued an adverse opinion on the company's internal controls over financial reporting for 2025. The adverse opinion stemmed from a material weakness: Kingstone lacked SOC 1 Type 2 reports for its insurance premium quoting platform and general ledger system.
SOC 1 Type 2 reports provide independent validation that service providers' controls are designed and operating effectively—their absence means Kingstone could not demonstrate adequate oversight of critical systems handling premium calculations and financial data.
While the financial statement audit itself was unqualified and there were no accounting disagreements, the internal control deficiency is a governance concern for an insurance company where premium accuracy and financial reporting integrity are fundamental. This is Kingstone's second auditor change in under two years. CBIZ became auditor in April 2025 after acquiring Marcum's attest business and served only 16 months before dismissal. The Audit Committee cited Deloitte's insurance industry expertise as a factor in the switch. Investors should watch whether Kingstone obtains the missing SOC reports and whether Deloitte's 2026 internal control opinion shows remediation of the material weakness.
Section-by-Section Diff
Event · Item 4.01 — Changes in Registrant's Certifying Accountant
Item 4.01 — Changes in Registrant's Certifying Accountant filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On August 18, 2026, Kingstone Companies, Inc. (the “Company”) notified Deloitte & Touche LLP (“Deloitte”) that the Audit Committee of the Board of Directors of the Company (the “Audit Committee”) approved the engagement of Deloitte as the Company’s independent registered public accounting firm to audit the consolidated financial statements and internal control over financial reporting of the Company as of December 31, 2026 and for the year then ending, subject to the execution of an engagement letter with Deloitte. Concurrently, the Company dismissed CBIZ CPAs P.C. (“CBIZ CPAs”) as its independent registered public accounting firm.
The company dismissed CBIZ CPAs and engaged Deloitte as its new independent auditor effective August 18, 2026. The Audit Committee cited Deloitte's dedicated insurance practice and depth of resources as factors in the selection. This is a company-initiated change, not an auditor resignation.
Added in current filing · verify on EDGAR →
From April 8, 2025 through August 18, 2026, there were no (i) “disagreements” (as defined in Item 304(a) (1) (iv) of Regulation S-K and the related instructions promulgated by the SEC pursuant to the Securities Exchange Act of 1934, as amended) between the Company and CBIZ CPAs on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of CBIZ CPAs, would have caused CBIZ CPAs to make reference to the subject matter of the disagreement in its report on the Company’s consolidated financial statements as of and for the fiscal year ended December 31, 2025, or (ii) “reportable events” (as defined in Item 304(a) (1) (v) of Regulation S-K), except that, as reported in Item 9A of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “Form 10-K”), as filed with the SEC on March 16, 2026, CBIZ CPAs issued an adverse attestation report on the effectiveness of the Company’s internal control over financial reporting as of December 31, 2025
The company disclosed no disagreements with CBIZ CPAs on accounting principles, financial statement disclosure, or auditing procedures. The only reportable event was the adverse internal control opinion already disclosed in the 2025 Form 10-K. The financial statement audit opinion itself was unqualified.
Added in current filing · verify on EDGAR →
As previously disclosed in a Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on April 8, 2025, on April 8, 2025, Marcum LLP (“Marcum”) resigned, and CBIZ CPAs was appointed, as the Company’s independent registered public accounting firm as a result of the acquisition by CBIZ CPAs of Marcum’s attest business.
CBIZ CPAs became the company's auditor on April 8, 2025, following its acquisition of Marcum LLP's attest business. This means CBIZ CPAs served as auditor for approximately 16 months before being dismissed. The current change represents the company's second auditor transition in less than two years.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 25, 2026 · How we verify