The annual Audit Analytics report on financial restatement trends is now available. This report provides a detailed analysis and comparison of trends in financial restatements over a seventeen-year period. Some key highlights include:
- Reissuance Restatements declined for the eleventh year in a row.
- Around 77% of restatements disclosed by 10-K filers were Revision Restatements.
- Total restatements dropped for three consecutive years to a 17-year low.
- There were 184 restatements filed by accelerated filers, and 236 restatements disclosed by non-accelerated filers.
- The average number of days restated decreased, and was much lower than the 737 days experienced during 2005.
- 168 of the restatements disclosed by publicly traded companies had no impact on earnings.
For more information on financial restatements, email us at email@example.com or call (508) 476-7007.