IRS Cannabis Compliance Report, Wrong! Why?: A Forensic Investigation Opens IRS-Floodgate

Co-Sponsored by the National Association of Certified Valuators and Analysts®  (NACVA®) 

	Program Description		Who Should Attend
	How You Will Benefit		Schedule

Program Description
The following presentation is an essential training tool that provides a thorough overview of forensic accounting principles utilized in cannabis audits, which lays a key foundation for financial professionals and advisors to provide outstanding services for their clients as it pertains to cannabis.

The general principles of forensic audits of enterprises also now apply to legal cannabis. That being said, the regulations within 280E must be followed, but it is essential that the professional also focus on the prospect that there are IRS assumptions that are wrong. Therefore, it is absolutely necessary that topics found within this presentation be acted upon. Forensic accounting is a fantastic tool to be utilized to determine whether an IRS assumption is correct. Additionally, the business advisor, or forensic expert, can point out whether the financials are correct or not, what can be done to correct them, and also provide a strategic roadmap of what can be improved in the legal cannabis enterprise. Our main goal in this presentation is to give professional advisors another tool for their toolbox to provide absolutely essential, professional services to their clients.

How You Will Benefit
After completing this course, attendees will be able to:

• Identify new, innovative forensic accounting techniques as they apply to cannabis audits
• Integrate exciting valuation techniques discovering the true realist revenue stream versus a phantom revenue, and the journey towards a realistic valuation result
• Recognize unknown red flags that generate an IRS audit, normally overlooked by professionals
• Manage an Excel spreadsheet that presents a statical analysis providing whether the forensic analysis is correct or not, and gives the professional actual written proof to fight for the client, possibly in court
• Use statistical analysis to fight the IRS on grounds that the IRS's cannabis revenue assumptions are completely wrong

Take Aways
After completing this course, attendees will understand that the IRS is not always correct in their assumptions, and therefore, can be better prepared to establish their own arguments. Additionally, professionals will be prepared to show their clients that they have new, effective knowledge that will enable them to face cannabis audits with confidence. Attendees will gain the knowledge to present valid valuations with much more accurate revenue streams to work with than possible flawed streams. Attorneys will have the necessary tools to present new evidence to reach an agreement with the IRS faster than they would have in the past.

Delivery Method Group Internet-Based Program Level Intermediate Advanced Preparation None Prerequisites Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.    Auditing 1 Total CPE Hours   1

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