Canopy Growth Corp Changes Auditor After PKF O’Connor Davies Resigns

What Happened
Canopy Growth Corp (CGC) filed an 8‑K on August 7, 2026 disclosing that PKF O’Connor Davies, LLP (PKFOD) resigned as the company’s independent registered public accounting firm effective that date. The Audit Committee engaged MNP LLP as the successor independent registered public accounting firm for the fiscal year ending March 31, 2027. PKFOD said the resignation was due to strategic changes in the firm’s desire to provide services to the cannabis sector.

Key Details

• PKFOD resigned and the change was effective August 7, 2026; MNP was engaged the same day.
• PKFOD reported no disagreements with the company for fiscal years ended March 31, 2026 and 2025 or the interim period through Aug 7, 2026.
• PKFOD’s June 15, 2026 report included an adverse opinion on internal control over financial reporting as of March 31, 2026 due to a material weakness: ineffective control over reviewing classification of equity‑linked instruments (equity vs. liabilities).
• As previously disclosed (May 15, 2026), the Audit Committee concluded certain prior financial statements (FY 2024 and FY 2025 and several quarterly 10‑Qs) should no longer be relied upon because of non‑cash technical errors related to certain U.S. dollar‑denominated, share‑settled warrants; PKFOD authorized cooperation with MNP on these matters.

Why It Matters
A change of auditor signals a notable shift in the company’s external financial oversight. Investors should note the combination of (1) an adverse ICFR opinion identifying a material control weakness, and (2) previously disclosed restatements and unreliability of prior filings related to warrant accounting. These issues affect confidence in past reporting and mean investors should monitor CGC’s corrected financial statements, any remediation of controls, and the new auditor’s review scope when assessing the company’s financials.