Valeant’s Financial Restatement Begs Compliance Questions

March 15, 2016 – Media Mention
Compliance Week

Richard Morris was quoted in Compliance Week about how to address and strengthen corporate governance in light of the announced financial restatement by Valeant Pharmaceuticals, particularly as the Financial Accounting Standards Board will roll out new standards for revenue recognition in 2019. Morris told the publication that “the board audit committee is the fulcrum of good corporate governance. They need to take their role seriously.” According to Morris, the goal at the end of any SEC investigation of Valeant should be that investors have faith in the audit committee and are satisfied that the company will not repeat previous accounting errors.