US VIRGIN ISLANDS 
The decision to provide professional services to the medical marijuana 
industry is a business decision for individual licensees and licensed firms. The 
Virgin Islands Board of Public Accountancy (Board) cautions that those 
individuals with Certified Public Accounting permits or licensed Certified 
Accounting firms that choose to provide  services of  any  kind to  persons or 
entities engaged in the medical marijuana industry should diligently 
consider the inherent risks and uncertainties involved, including, but not 
limited to, the political uncertainty of federal enforcement of the Controlled 
Substances Act and provisions of the U.S. Internal Revenue Code. 
 
Federal law notwithstanding, it is the Board’s position that a licensee 
offering to perform professional services for clients engaged in the 
medical marijuana industry legalized in any state will not face 
disciplinary action by the Board based solely on the fact that the licensee 
or firm is providing such services. However, licensees are reminded 
that the federal government views such activity as a federal criminal 
offense. The Board’s position does not negate the possibility that 
disciplinary action may be taken by the Board should a licensee be found 
guilty of a federal criminal act. 
 
 
That being said, the Board cannot provide an assessment of the spectrum 
of risks that CPA’s potentially face if they choose to engage with clients 
who are involved in the cannabis industry. Licensees are advised to seek 
their own legal counsel in determining whether to engage in providing 
services to clients in this industry. 
 
 
The Board of Public Accountancy unanimously approved this statement on October 
29, 2022.