Financial restatements report
Our Financial restatements report – one of our most hotly anticipated of the year – is out! It shares the latest trends in financial restatements, a key measure of financial reporting quality.
In 2023, there were 430 restatements filed, marking a decrease from 2022. However, the average restatement period increased to 438 days. Top issues identified centered around debt and equity – continuing the trend since 2004.
More than half of companies disclosed a net income impact from restatements, with the average negative impact being approximately $16 million. Non-accelerated filers and tech companies led the restatements, while foreign private issuers mainly faced issues related to intangible and fixed assets.
Check out our full report to learn more.
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