Receivership in the Cannabis Industry

Allen Wilen, National Director of the Financial Advisory Services Group, talks about receivership in the cannabis industry. The podcast covers the concept of receivership and its limitations compared to bankruptcy. It also explores bankruptcy receivership laws and their implementation in different states, the challenges faced by receivers in the cannabis industry, and the obstacles unique to the emerging cannabis market. Additionally, the podcast discusses the need for controls and systems in cannabis companies, including accounting systems, inventory control, cost accounting, and internal controls over cash and product tracking.