Valeant Pharmaceuticals’ announced financial restatement, which is projected to shift roughly $58 million in revenue from the second half of 2014 to the first half of 2015, has raised larger questions about the drug company’s compliance program and its business model. It could also serve as an early warning to all publicly listed U.S. companies about the increased room for misjudging the booking of sales once the Financial Accounting Standards Board rolls out its new revenue recognition standards in 2019.
