Is Your Cannabis Business Audit Ready?

Business leaders in the cannabis industry know the importance of keeping good records. From regulatory compliance to key metric analytics, cannabis companies, in particular, depend on accurate business data to maintain successful operations.

Routine audits are a part of this process, ensuring that the financial records of a cannabis business are a fair and accurate representation of the transactions they claim to represent.

Audits generally fall into one of 3 categories: external audits, internal audits, and IRS/Compliance audits. Cannabis businesses performing external/internal audits gain powerful insight into their operations, ensuring businesses maximize readiness for inevitable IRS and regulatory compliance audits when they occur.

Here, we’ve identified multiple benefits to cannabis business managers that result from external/internal auditing, helping companies: