According to a statement from the firm, recent legislation including the U.S. 2018 Farm Bill and the 2018 Canadian Cannabis Act, forecasts rapid expansion of the hemp and cannabis industry at the federal, state and international levels.
The expanded practice features a dedicated group of approximately 20 accounting, tax and advisory professionals along with increased marketing and business development expenditures, firm officials told Accounting Today. Servicing clients and prospects from all primary office locations, EisnerAmper has increased its focus on cross-border transactions and the emerging hemp industry. This has resulted in increased M&A activity with several transactions in process or completed; working with Canadian companies acquiring cannabis and hemp companies and assets; and developing strategic partnerships internationally and in the U.S.
EisnerAmper offers tax and advisory services to the hemp and cannabis industry both within the U.S. and internationally. The practice serves a range of companies in the industry from startup to exit. In addition, the firm provides insight to help entities prepare for and adapt to regulatory changes and offers compliance services to meet annual governmental reporting requirements.
“This is the fastest growing and most quickly evolving industry I’ve seen in my 35 years in business advisory services,” said Rick Frimmer, EisnerAmper managing director and cannabis and hemp practice leader, in a statement. “What sets us apart is our practical experience having performed many engagements in this one-of-a-kind sector on behalf of both public and private companies. We know the landscape. We know the participants. And our lengthy track record of accounting proficiency and a client-centric approach is widely known.”
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