Verdant Strategies Brings a Holistic Approach to Cannabis Accounting and Compliance

When operating in an industry as heavily regulated as cannabis, compliance with rules at both the state and federal levels is essential. This couldn’t be more true than when it comes to a company’s financial reporting, making working with an accounting firm that specializes in the cannabis industry a wise choice. For many executives in the know, that choice is Verdant Strategies.

Rachel Wright, CPA, MST, and the founder of Verdant Strategies, has been serving clients in the cannabis industry for nearly a dozen years. She launched Verdant in 2024, building on the legacy of 420CPA, which has served cannabis operators since 2009, and AB FinWright LLP, which she co-founded in 2020.

Today, Verdant supports hundreds of cannabis operators nationwide with their accounting needs, and the company is expanding into the UK and the EU’s emerging markets. For Wright, these relationships each represent a commitment to providing services that add value and contribute to her client’s success in the industry.

“Our focus has always been helping cannabis businesses build strong financial foundations that support long-term growth—not just short-term compliance,” she says in a written interview with IgniteIt.

Wright adds that accountants who pursue clients in the cannabis industry should understand the unique nature of the business and be able provide services that go beyond standard bookkeeping.

“Accounting firms that enter the cannabis industry need to understand that this space can’t be approached transactionally,” says Wright. “If you treat cannabis like a checklist—tax return here, filing there—you won’t fully service the client or the industry as a whole.”

“Cannabis requires a holistic mindset. Verdant is unique because we’ve built processes to support operators across every part of their business,” she continues. “We go beyond compliance and provide guidance around financial strategy, operational optimization, governance, and long-term sustainability.”

Not all accounting firms are prepared to deal with cannabis industry clients. When executives are choosing one, Wright recommends focusing on firms with a solid reputation for providing comprehensive services to businesses in the cannabis industry.

“Experience in the cannabis industry is critical. You want a firm that understands how this industry actually operates, not just the tax code,” she explains. “Look for a proven track record and a team that helps you make better financial decisions. Cannabis is complex, and your accounting partner should be comfortable navigating that complexity while helping you move the business forward.”

The evolving regulatory environment for cannabis, particularly at the federal level, adds new pieces to the puzzle operators must solve on an ongoing basis. As things change, businesses will need to reassess their compliance and weigh new opportunities. For savvy executives, having the right professional advisory team in place will take on new significance.

“There are still a lot of unanswered questions around rescheduling, which is why Verdant Strategies wants to be a resource for operators as policy continues to shift,” Wright says. “Our role is to help clients understand what rescheduling could mean, what it won’t mean, and how to prepare for potential changes. We’re actively educating the industry and recently launched a YouTube video specifically for operators on what rescheduling means in practice.”

https://www.youtube.com/watch?v=DolilmIkowQ&t=1s