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Cannabis Internal Controls and SOX

Internal controls help optimize operations, protect cash flow, and effect good cash management policies.

Develop Processes to Protect Value

Managing a cannabis company’s finances is unlike managing those of any other business we have seen before. Since marijuana is federally illegal with no government funding, it is up to the individual company and the state to take the necessary measures to ensure that these businesses are compliant.

A strong internal control environment helps optimize operations, protect cash flow, and effect good cash management policies. The passing of the Sarbanes-Oxley Act (SOX) makes having a strong internal control environment a requirement for public companies. The goal is to protect shareholders and the general public from accounting errors and fraudulent practices in enterprises, as well as improve the accuracy of corporate disclosures.

Latest Internal Controls and SOX Guidance

How GreenGrowth CPAs Can Help with Internal Controls and SOX Compliance

Cannabis companies need to be diligent in assessing entities and controlling risks. GreenGrowth CPAs’ internal audit and SOX compliance advisors can help you evaluate the control environment and document your internal processes, policies, and control measures. Further, we can implement controls to meet SOX and COSO 2013 requirements.

How can we help your
cannabis business grow?