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CPA Now
Oct 20, 2020

Marijuana and the CPA

By Allison Henry, PICPA vice president, professional and technical standards


Medical marijuana sales are on the rise and you may be thinking about taking on clients associated with this industry. Before you do anything, you must understand the industry is complex with many regulations, and it is every CPA’s ethical responsibility to exercise due professional care and meet the competency requirements when performing professional services.

A good place to start learning about CPA responsibilities and the risks of the marijuana industry is the AICPA’s issue brief on state marijuana laws and the CPA profession. Also mark your calendar for the 2020 National Cannabis Business Symposium on Oct. 26-27, hosted by CalCPA and COCPA. In the video below, PICPA's Allison Henry discusses marijuana and the CPA.


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Disclaimer
Statements of fact and opinion are the authors’ responsibility alone and do not imply an opinion on the part of PICPA officers or members. The information contained in herein does not constitute accounting, legal, or professional advice. For professional advice, please engage or consult a qualified professional.