Posted by & filed under Accounting Careers, Accounting Principles.

Description: Monday’s can be hard enough. But for Valeant Pharmaceutical’s CEO Michael Pearson, last Monday was tougher than most. After being on sick leave for two months, Mr. Pearson returned to work and promptly had to deal with an announcement that Valeant was under investigation by the Securities and Exchange Commission (SEC). The week before, Valeant had announced it would be restating previous results by close to $60 million.

 

Source: BNN.ca

Date: February 29, 2016

Link: http://www.bnn.ca/News/2016/2/29/Valeant-delays-results-as-Pearson-returns-to-work.aspx

Discussion Points:

1) What do you think would be your first order of business if you were Mr. Pearson and just returning to work?

2) If you were the CFO of Valeant, what role might you be playing in this crisis?

3) Why do you think Valeant may be changing the timing of its recognition of revenue?

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