Biovail was a large international pharmaceutical company with reported earnings of $788 million. Bank of America has issued a research report which signals that Biovail Corporation's financial statements "raised numerous problems that warrant caution for investors," and consequently, Biovail's stock was given a "sell" rating by Bank of America.
A member of Biovail's audit committee contemplates the implications of this report for the business and for the audit committee and is preparing for an upcoming audit assembly.
PUBLICATION DATE: January 07, 2009 PRODUCT #: 909B04-HCB-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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