Accounting at Biovail - Revised

  • Reference: IVEY-9B09B004-E

  • Year: 2003

  • Number of pages: 19

  • Geographic Setting: Canada

  • Publication Date: Jan 7, 2009

  • Fecha de edición: Jun 4, 2009

  • Source: Ivey Business School (Canada)

  • Type of Document: Case

  • Industry Setting: Manufacturing;

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Description

Biovail was a large international pharmaceutical company with reported revenues of $788 million. Banc of America has issued a research report which indicates that Biovail Corporation's financial statements raised a number of issues that warrant caution for investors, and as a result, Biovail's stock was given a sell rating by Banc of America. A member of Biovail's audit committee is preparing for an upcoming audit meeting and considers the implications of this report for the company and for the audit committee.

Keywords

Corporate governance Financial Reports/Disclosure