cannabis forensic accounting
CPA services
The dirt
The cannabis industry continues to emerge as one of the most high growth sectors in the economy over the next decade. This of course excites and attracts many of us to cannabis businesses - we feel like we are entering something massive at the ground floor. Unfortunately for everyone participating in the "Green Rush", there comes a whole host unique challenges surrounding cannabis theft, fraud, shareholder disagreements and company valuations. Consider some of the most common scenarios in which a marijuana business may find itself in need of a forensic accounting advisory service. Employee theft is generally going to happen at a higher rate then in other industries - this is predominantly because, at this time, company's internal controls are not up to the standard most other industries require. Undoubtedly difficult to prove, a certified public accounting firm can be brought in to help build a case around theft, using financial information from your organization as building blocks for the evidence. Consider also your interactions with other companies within the cannabis space. Without proper guidance from the IRS or Big 4 accounting firms, many CPA firms are still having trouble cobbling together the proper accounting methods for the cannabis industry. As a result many cannabis retailers, cannabis dispensaries etc, may not be receiving the best accounting services. This leaves the cannabis industry ripe to all types of criminal misrepresentation including outright fraud, breach of contract between organizations, business valuations and shareholder disagreements.
Specific forensic accounting services we offer:
+ Expert Cannabis Financial Witness
The CPAs are Greenbooks are prepared to take the stand. Working together with our clients to understand the full scope of each case, we will identify the damages, and collect and analyze the data. Having a financial expert in your panel during litigation is an important part of winning your case. Having a CPA who is also a certified fraud examiner with cannabis experience is like having the Rolls Royce of an expert witness.
+ Preliminary Estimate of Damages
Do you believe your organization was/is actively being defrauded yet you can't quite prove it? Engaging a certified fraud examiner from Greenbooks, we will assist in developing detective controls for your organization. The ultimate goal is to get a preliminary estimate of damages to help determine if damages are sufficient to proceed with litigation.
+ Settlement Negotiations
Most non criminal cases do in fact end in settlements. Don't let yourself be on the losing end of the settlement. Our CPAs will help to correctly assess the financial impact of each case and ensure you are getting your fair end of the bargain.
+ Why Choose Green Books
Ultimately, a forensic accounting engagement is going to help you identify and estimate damages that your organization has incurred as a result of malicious actions. When engaging a certified public accounting firm to assist you, it is imperative that the firm has a deep understanding of the industry - they are simply going to be more effective in investigating and compiling evidence. By engaging Greenbooks CPAs, you will be engaging a firm that focuses solely on the cannabis industry. Due to our intimate industry knowledge we are going to be able to help you reach a fair and equitable conclusion - mainly because we know where and how to look.
Take a look:
Your organization is vulnerable to fraud both internal and external in many ways. One common method of fraud used by employees is fraudulent returns. Navigate the below viz of suspicious returns by salesperson by clicking on a salesperson’s results.
