1) Biovail Scandal in 2009

a) Give a brief overview of the company?

b) What were the sources, schemes, and motivation of the financial statement fraud?

c) What were the factors that contributed to the fraud?

d) What was the form of Financial Statement Fraud?

e) How was the fraud detected and were there Red Flags?

f) What was the outcome of the fraud and what investigative methods were used and how were the findings communicated?

g) How could the financial statement fraud have been prevented?