News

The Department of Licensing and Regulatory Affairs (LARA) continues to build an infrastructure for the medical marijuana industry. Still, as the industry evolves and matures in Michigan, MICPA members frequently aid its associated regulatory agencies with the kind of expertise only a CPA can provide.  

Most recently, the Michigan Marijuana Regulatory Agency (MRA) worked closely with the MICPA’s Marijuana Workgroup to develop a frequently asked questions (FAQs) document for its 2020 Annual Financial Statement (AFS) which was published in June. This FAQ will act as a supplement to the AFS by providing guidance on determining licensee reporting periods and how to compile and submit AFS reports as well as answer related questions.  

The MICPA Marijuana Workgroup is composed of members who are engaged in the industry and have a background in audit and attestation standards. MICPA members provide ongoing insight to leaders in our communities, governments and the firms and companies they represent, showcasing their skill and value to all sectors of industry and public institutions.