KPMG in Canada has decided to cease providing financial-statement audit services to businesses in the cannabis industry, marking an incredible turnaround for a company that had raked in millions from the burgeoning sector.
The accounting firm confirmed the move in a statement to MJBizDaily, citing “elevated risk” in Canada’s adult-use cannabis industry.
ADVERTISEMENT
“KPMG in Canada is committed to delivering high quality audits and upholding the integrity of our capital markets,” Kevin Dove, national director of external communications for KPMG Management Services, said via email.
“Given the continued challenges facing cannabis growers, we have made the decision that this elevated risk no longer meets the risk tolerance of our audit practice.”
The move is the latest blow for a sector facing a multitude of
Read full article on Marijuana Business Daily
