Consulting firm MNP joins Global Cannabis Partnership

04 April 2019 Consulting.ca

Accounting and consulting firm MNP LLP has joined the Global Cannabis Partnership (GCP). The GCP is a not-for-profit collaboration of public and private sector organizations seeking to establish social responsibility standards for the international cannabis industry.

Legal cannabis is a multibillion dollar industry in Canada, and its pollen is being blown across the globe, with legal recreational cannabis laws in several US states and European countries currently planting the seeds of potential legalization.

Cannabis legalization brings with it a rush of capitalists seeking to make their fortune, many of whom are in need of sound guidance. A thriving consulting segment has rapidly sprung forth to support cannabis firms with strategy, data analysis, regulatory compliance, security, human resources, and any other business needs. At established consultancies, cannabis teams have generally been cobbled together from consumer packaged goods, and food and beverage sector teams, where there exists a good deal of relevant expertise.

MNP, Canada’s fifth-largest national accounting and consulting firm, was quick to jump on the cannabis bandwagon, and is now one of the industry’s leading advisors, servicing clients internationally.

Consulting firm MNP joins Global Cannabis Partnership

The firm has deep expertise advising industry clients on accounting, audit, tax, financial, and regulatory issues. MNP also supports cannabis industry clients with strategic planning, organizational performance, risk management, best practices and internal controls, and M&A.

As part of its growing role in the industry, MNP has joined the not-for-profit organization Global Cannabis Partnership (GCP). The St. John, New Brunswick-based organization is currently working to create a responsible cannabis framework to guide the safe production, distribution, and consumption of legal recreational cannabis.

Other members of the GCP include consultancies EY, PwC, Grant Thornton, and Cannabis Compliance Inc.

"MNP joined the GCP to collaborate with other industry leaders as the cannabis industry in Canada steps into the spotlight on a global stage," Glenn Fraser, national leader of both food and beverage processing and cannabis, said.

"When MNP decided to enter the cannabis industry in 2013, we made a point to integrate ourselves with the people and organizations propelling the Canadian cannabis industry forward. Through our membership with the Global Cannabis Partnership, we're at the table with our peers continuing the development of the adult-use recreational cannabis industry in Canada and beyond."

MNP joined the organization at the same time as four other companies: cannabis cultivator Canndescent; cannabis operator and franchisor ONE Cannabis Group; cannabinoid R&D firm Cronos Group; and cannabis producer Rubicon Organics. The five additions bring the GCP’s total membership to 37.

"As the industry continues to grow, our membership is expanding along with it," Kim Wilson, executive director of GCP, said. "We're thrilled to have these new members, who are committed to corporate social responsibility and making a positive contribution to the partnership. The diversity of our membership brings a broad perspective and expertise to the table, which will help us set standards and guidelines for best practices in the cannabis industry worldwide."

Related: MNP named a Best Employer in Canada for 11th year in a row


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