This is where we perform an audit of the company itself, and most often publicly traded companies drive this because they are looking for more investors.
If the company is publicly traded, or if a big raise that investors want exists, they need a third party CPA to come and audit the financial statements and issue a Professional Opinion.
We are licensed with PCAOB, which allows us to do audits with companies publicly traded in the United States. We are also licensed with CPAP, so we can do the same with Canada. Lastly, we are AICPA licensed which allows us to audit for private companies in the U.S. Performing an internal audit prior to going public is necessary for any company. That way, we can ensure that your cannabis operation is running smoothly without any issues prior to the IPO.
No company should be going into the public market without an internal audit. Receiving an internal audit from a third party company like GreenGrowth CPAs ensures that there are no biases. We will be able to tell you exactly what is going on in your business and how exactly it is happening from a financial perspective. You will be prepared to go public, and you will also be prepared in the case of an IRS audit.
As you prepare for any sizable financial move, you will need to undergo a cannabis business financial audit which we can help you prepare for and support you throughout the entire audit process.
From financial statement preparation to SEC filings, we will make sure that your management team is confident and prepared for the road ahead. We are also PCAOB certified so we can help you make the necessary conversions in either direction between IFRS to US GAAP.
For companies that don’t need a full scope audit, we are able to perform a Review which consists mainly of analytical procedures and trend analysis as well as Agreed upon Procedures in which we only audit specific areas of the financial statement. It is essential that you perform a regular internal audit before it becomes external and the IRS is knocking on your door asking for your documents.
We recommend that you keep your information organized and easily accessible in case this were to happen, specifically by having record of all transactions and 2 prior years worth of tax returns.
Join over 27,150 other cannabis business owners that receive exclusive tips and best practices for running a profitable cannabis business.