It’s four o’clock on a Friday afternoon. The workweek is almost over. Many cubicle dwellers have already slipped out for an early weekend happy hour, followed by a couple days of R&R. Anyway, that’s the way it is for you … Continue reading
Category Archives: Financial Restatements
Restatements: Where They Come From
Ever since the days of Enron, financial restatements have been considered big news. Not all accounting mistakes are created equal, of course: thousands are discovered every year, but most are not material enough even to warrant a disclosure. A few, … Continue reading
Different Types of Financial Statement Error Corrections
The recent restatement report from Audit Analytics reveals that the number of financial restatements has leveled off over the last three years. While this metric shows stabilization in financial statement errors, a deeper understanding of the different types of error … Continue reading
2012 Financial Restatements Review
2012 showed positive trends for financial restatements. While the total number of restatements over the last four years appears to have leveled off, a closer look at the underlying indicators of severity reveal much more positive results. The percentage of revision … Continue reading
HP’s Autonomy Impairment – Restatement In Disguise?
It’s bound to make some waves when a company announces an impairment as sizable as the one HP recently announced with respect to their acquisition of Autonomy. And if the impairment is associated with alleged fraud committed by former executives … Continue reading