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2018 Financial Restatements Review

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 an eighteen-year period.

When looking at restatements, we categorize them by two levels: reissuance restatements and revision restatements. Reissuance restatements, sometimes referred to as “Big R” restatements, address a material error that calls for the reissuance of a past financial statement. Alternatively, revision restatements, or “little r” restatements, deal with immaterial misstatements, or adjustments made in the normal course of business. Because revision restatements are less severe, they are generally not looked at as a sign of poor reporting. However, some would argue that the disclosure of revision restatements shows a level of transparency and honesty by the filer.

Some key highlights from this year’s report include:

Subscribers can login and download the report from our website
All others can purchase the report here.

For more information on financial restatements, please contact us.

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