Armanino Reviews Parts of NCS Thea Risk Scoring Process

NCS Analytics said in a press release that accounting firm Armanino completed agreed upon procedures related to parts of the company's validation of NCS Thea. The lending intelligence platform serves financial institutions, private lenders, credit funds and other organizations that provide capital to licensed cannabis businesses.

The procedures covered specific data inputs, NCS Analytics' scoring methodology, calculations for certain Risk Lending Score components, risk classifications and the presentation of outputs. Armanino reported factual findings under attestation standards established by the American Institute of Certified Public Accountants.

An agreed upon procedures engagement is narrower than an audit. The client specifies what is examined, and the accounting firm reports what it found without giving an opinion or an assurance conclusion on the platform as a whole.

NCS Thea combines operational data from state cannabis track and trace systems with behavioral and predictive analytics. It uses this information to assess business health and lending risk.