KROST CPAs and Consultants, headquartered on South Lake Avenue in Pasadena, has been recognized by Accounting Today, a trade magazine servicing the public accounting profession, as the No. 1 Fastest Growing accounting firm in the United States.
The magazine also named KROST one of the Top 100 Firms, ranking No. 78, with an 80.08 percent change in revenue from last year.
In addition, the firm also ranked No. 11 on the list of Regional Leaders on the West Coast, which includes firms in California, Nevada, Oregon, and Washington. The average firm growth was 7.59 percent, which KROST surpassed with the highest percent change.
“It means a great deal to us to receive these two awards from Accounting Today,” Greg Kniss, Managing Principal at KROST, said. “It has been a difficult year for our entire industry. The pandemic forced many of us to change our strategies and shift priorities. Despite the circumstances, we were fortunate to be able to grow our firm and rise to the challenges of 2020.”
Accounting Today said the West Coast regional leaders, which are usually among the top three groups in performance, dropped into the middle of the pack in terms of growth rate, but still reported higher revenues from 2020 than in 2019 despite the loss of Squar Milner, which merged into Baker Tilly late in the year.
“That was thanks in no small part to the addition of KROST, a new entry to the top 100 firms and the fastest growing firm in this year’s report, as well as OUM and Co., which is new to the regional list this year,” the report read.
Accounting Today’s Top 100 Firms and Regional Leaders is an annual ranking that recognizes the largest tax and accounting firms by revenue, both nationwide and in specific regions.
In 2019, INSIDE Public Accounting (IPA), an independent publication, named KROST CPAs and Consultants the “Best of the Best” and Top 200 Firm for the fourth year in a row. The firm placed 109th on the top 200 list, a substantial leap from 157th in 2016 when it first made the rankings.
KROST was established in Pasadena in 1939 as a full-service certified public accounting and consulting firm serving clients across various industries. On its website, the firm says it is focused on recognizing opportunities and creating value for clients “by equipping them with the tools to make better business and financial decisions for the future.”