Following recent developments, laws legalizing recreational marijuana use have gone into effect in four states as of last week, with nearly half of the states already having enacted medical marijuana laws. Professional service providers, including CPAs, are increasingly discussing if they want to serve these new businesses being created by the change in state drug policy.

Risks and challenges include federal law still classifying the production, distribution, sale, and use of marijuana as illegal, as well as many regulatory bodies in states where the drug has been legalized at the state level have yet to provide guidance to businesses on the issue.

To help professionals assess their options, theAICPA will hold a March 5 webcast,Understanding the Impact of Legalized Marijuana on the CPA Profession. A panel of experts from the AICPA, as well as representative from Aon Corp., will discuss implications from an ethics, tax, auditing and attest services, and insurance standpoint.

The webcast will also offer an overview of recent legal and regulatory developments, including legalization in Alaska, Colorado, Oregon and Washington State. 

The AICPA has also developed anissue briefon the subject. 

For more information and registration for the event, head to the AICPA's sitehere.