Canopy Growth Corp.’s principal accountants resigned June 22, but the company told MJBizDaily the move was a “joint decision” with the auditor and not related to recent accounting woes.
“On June 22, 2023, KPMG LLP, which had been serving as the independent registered public accounting firm of Canopy Growth Corporation, declined to stand for reelection and resigned as the Company’s independent registered public accounting firm,” Canopy disclosed in a regulatory filing with U.S. Securities and Exchange Commission.
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Canopy’s fiscal 2022 sales were recently restated lower, by 10 million Canadian dollars ($7.5 million), while year-to-date sales for fiscal 2023 were lowered by approximately CA$14 million.
Canopy reported a net loss of CA$3.3 billion for its fiscal year ended March 31 and warned of “material misstatements” in past disclosures.
Canopy previously indicated the restatements had been related to international sales that had been improperly recognized by BioSteel Sports
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