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Table 4 Reasons participating Certified Public Accountants would not serve the cannabis industry

From: Accounting and the US cannabis industry: federal financial regulations and the perspectives of Certified Public Accountants and cannabis businesses owners

Reason stated

Count (%) of Certified Public Accountant participants who do NOT serve the industry

Federally illegal; fear of criminal prosecution

8 (89%)a

Do not want to jeopardize Certified Public Accountant license

3 (33%)

Complicated tax requirements; not willing to devote the time and resources to special technical training;

4 (44%)

Banking/cash and security issues

1 (11%)

  1. Certified Public Accountants may have given more than one reason to not serve the industry; therefore, percentages will not total 100%
  2. aIncludes COCPA11 that declined an interview but indicated his firm does not serve cannabis clients because it is illegal at the federal level