KPMG Resigns as Canopy Growth's Accounting Firm This report after markets closed today will surely not be good for WEED's share price tomorrow.
KPMG drops Canopy Growth citing 'ineffective' control over financial reporting Canopy Growth Corp. (NASDAQ:CGC) has lost KPMG as the company has resigned as the Canadian cannabis licensed producer's independent registered public accounting firm.
A Canopy Growth (CGC) SEC filing said that a June 22 KPMG report on the company found it "did not maintain effective internal control over financial reporting as of March 31, 2023."
KPMG added that "an ineffective control environment, resulting from a lack of the required number of trained operational and IT personnel with the appropriate skills and knowledge and with appropriate assigned authorities, responsibilities and accountability related to the design, implementation and operating effectiveness of internal control over financial reporting."