Canopy Growth Corp (CGC): auditor change — Canopy Growth's auditor KPMG resigns; going concern warning and material weaknesses cited

Canopy Growth Corp

KPMG declined reelection and resigned effective June 22, 2023, citing material debt obligations and recurring losses raising substantial doubt about going concern.
Audit reports for FY2023 contained explanatory paragraph on restatement of FY2022 and a going concern paragraph; no adverse opinion on financial statements.
Material weaknesses identified: ineffective control environment, revenue recognition issues in BioSteel segment, IT general controls deficiencies.
Company restated FY2022 annual and quarterly 2022 financials; engaged PKF O'Connor Davies as new auditor for FY2024.
No disagreements between Company and KPMG on accounting principles or audit scope.

item 4.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

Canopy Growth Corp engaged PKF O’Connor Davies, LLP as its auditor.

Action: engagement
Auditor: PKF O’Connor Davies, LLP

Exact text from the filing

Also on June 22, 2023, the Company engaged PKFOD, a nationally recognized auditing firm, as the Company’s independent registere

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Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

KPMG LLP resigned as auditor of Canopy Growth Corp.

Action: resignation
Auditor: KPMG LLP

Exact text from the filing

On June 22, 2023, KPMG LLP (“KPMG”), which had been serving as the independent registered public accounting firm of Canopy Growth Corporation (the “Company”), declined to stand for reelection and resigned as the Company’s independent registered public accounting firm, effective June 22, 2023

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6 auditor changes filed in the last 30 days. Browse all auditor changes →

Canopy Growth Corp filing history →

Source: SEC EDGAR

accession 0001193125-23-176150

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