Canopy Growth's Auditor Departs After Adverse Controls Opinion and Restatement
PKF O'Connor Davies resigned as Canopy Growth's independent auditor on August 7, 2026, less than ten months after being ratified by shareholders, citing strategic changes regarding its services to the cannabis sector. The departure followed PKF's June 15, 2026 audit report, which contained an adverse opinion on Canopy Growth's internal controls over financial reporting, identifying a material weakness in the review of equity-linked instrument classification. The same filing re-discloses a May 2026 non-reliance determination covering audited financials for fiscal years 2024 and 2025 and eight quarterly periods, stemming from share-settled warrants that were incorrectly classified as equity. MNP LLP, a Canadian firm with no prior relationship with the company, was engaged as replacement on the same day.