Canopy Growth auditor PKF O’Connor Davies resigns, citing reduced cannabis-sector focus
CGC•Internal control weakness identified
The auditor issued an adverse opinion on internal control over financial reporting as of March 31, 2026, citing a material weakness.
The weakness related to controls over reviewing significant technical accounting matters, including classifying equity-linked instruments as equity or liabilities.
Auditor resigns after strategic shift
Canopy Growth’s auditor PKF O’Connor Davies resigned effective Aug. 7, 2026, citing a strategic shift away from cannabis-sector work.
No accounting or audit-scope disputes were reported with the auditor for fiscal 2026, fiscal 2025, or the interim period through Aug. 7, 2026.
Restatement explanation included in audit report
The fiscal 2026 audit report also included an explanatory paragraph tied to a restatement of prior-year financial statements.
