skip to main content
X

WORKING WITH THE MRA TO IMPROVE FINANCIAL REPORTING FOR THE CANNABIS INDUSTRY

WORKING WITH THE MRA TO IMPROVE FINANCIAL REPORTING FOR THE CANNABIS INDUSTRY

Recently, the UHY cannabis team, along with several other Michigan CPAs that serve the cannabis industry met with the Michigan Marijuana Regulatory Agency (MRA) to discuss and relay any issues during the first year of testing and issuing the required annual financial statements (AFS). The team shared the difficulties encountered both by licensees and CPAs, and focused its efforts on providing feedback aimed to streamline the process. Key items discussed were the elimination of redundancy in testing and the creation of resources to further educate and prepare licensees to properly undergo the testing in an efficient and timely manner.

The cannabis industry is a heavily regulated industry that requires adherence to strict compliance, specific laws, and regulations. Contact the experienced team of cannabis professionals at UHY for assistance.

HAVE A QUESTION?

Please complete this form to hear from one of our professionals.

 

Hide Firm Disclaimer

©2021 UHY LLP. ALL RIGHTS RESERVED.

UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc. and its subsidiary entities. UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of "UHY Advisors." UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms. UHY LLP and UHY Advisors, Inc. are U.S. members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. "UHY" is the brand name for the UHY international network. Any services described herein are provided by UHY LLP and/or UHY Advisors (as the case may be) and not by UHY or any other member firm of UHY. Neither UHY nor any member of UHY has any liability for services provided by other members.

On this website, (i) the term "our firm", "we" and terms of similar import, denote the alternative practice structure conducted by UHY LLP and UHY Advisors, Inc. and its subsidiary entities, and (ii) the term "UHYI" denotes the UHY international network, in each case as more fully described in the preceding paragraph.