---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-176150"
form_type: "8-K"
ticker: "CGC"
cik: "0001737927"
company_name: "Canopy Growth Corp"
filed_at: "2023-06-27T23:59:59+00:00"
generated_at: "2026-06-13T16:24:49.968123+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Canopy Growth's auditor KPMG resigns; going concern warning and material weaknesses cited

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-176150
- form_type: 8-K
- ticker: CGC
- cik: 0001737927
- company_name: Canopy Growth Corp
- filed_at: 2023-06-27T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1737927/000119312523176150/0001193125-23-176150-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1737927/000119312523176150/d507693d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-176150
- JSON: https://secwatch.observer/filing/0001193125-23-176150.json
- Plain text: https://secwatch.observer/filing/0001193125-23-176150.txt

## Key facts
- Auditor Changes
  Canopy Growth Corp engaged PKF O’Connor Davies, LLP as its auditor.
  - Action: engagement
  - Auditor: PKF O’Connor Davies, LLP
  source text: Also on June 22, 2023, the Company engaged PKFOD, a nationally recognized auditing firm, as the Company’s independent registere
  evidence_url: https://www.sec.gov/Archives/edgar/data/1737927/000119312523176150/0001193125-23-176150-index.htm
- Auditor Changes
  KPMG LLP resigned as auditor of Canopy Growth Corp.
  - Action: resignation
  - Auditor: KPMG LLP
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1737927/000119312523176150/0001193125-23-176150-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.