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Canopy Growth Corp T.WEED

Alternate Symbol(s):  T.WEED.DB | CGC

Canopy Growth Corporation is a cannabis company. It delivers innovative products with a focus on premium and mainstream cannabis brands, including Doja, 7ACRES, Tweed, and Deep Space, in addition to category-defining vaporizer technology made in Germany by Storz & Bickel. The principal activities of the Company are the production, distribution and sale of a diverse range of cannabis and cannabinoid-based products for both adult-use and medical purposes under a portfolio of distinct brands in Canada. Its Canada cannabis segment includes the production, distribution, and sale of a range of cannabis, hemp, and cannabis related products in Canada. International markets cannabis segment includes the production, distribution, and sale of a range of cannabis and hemp products internationally. Storz & Bickel segment includes the production, distribution, and sale of vaporizers. This Works segment includes the production, distribution and sale of beauty, skincare, wellness and sleep products.


TSX:WEED - Post by User

Post by davgroon Jun 27, 2023 6:36pm
325 Views
Post# 35517362

KPMG Resigns as Canopy Growth's Accounting Firm

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."
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