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- Is Your Company at Risk for Financial Restatements?
- Financial restatements strain resources and unnerve shareholders. It's a wild, post-Sarbox world. Here's how smart companies survive. Restate and Main: Is Your Company Vulnerable? Source: CFO Publishing This column from CFO Publishing looks...
- Articles 2008-03-11
Additional Resources
- Financial restatements hit record numbers. (Banking & Finance Quarterly)
- U.S. companies are filing financial restatements admitting false or faulty accounting at a record pace, according to a study at New York University's Stem School of Business. Restatements almost tripled from 1997 to 2001, and this year's rate will exceed last year's total of 158, the study said....
- Research articles 2002-05-20
- What triggers financial restatements?
- Poor documentation of transactions, the wrong accounting treatment, lack of transparency, weak internal controls, and in rare instances - fraud can wreak havoc on corporate and personal reputations. And the number of restatements keeps breaking records.The incidence of financial restatements in the United States has soared in the past five...
- Research articles 2005-10-01
- What Triggers Financial Restatements?
- Poor documentation of transactions, the wrong accounting treatment, lack of transparency, weak internal controls, and in rare instances fraud can wreak havoc on corporate and personal reputations. The incidence of financial restatements in the United States has soared in the past five years and the trend continues as the post-Sarbanes-Oxley...
- White papers 2005-10-01
- ADVISORY/Movaris and Business Finance Magazine to Host Webinar: ''Avoid Material Weakness Disclosures and Financial Restatements With a Single Close''
- In the paragraph that begins "Join John Hagerty..." the first sentence should begin: Join John Hagerty of AMR Research, Dwight Wagner, Division Finance Manager of FMC Corporation... (sted Join John Hagerty of AMR Research, Dwight Wagner, Corporate Accounting Manager of FMC Corporation). The corrected release reads: ADVISORY/MOVARIS AND...
- Research articles 2005-10-11
- Probes trigger restatements; AIG, others reassessing finite deals.(News)
- Byline: JUDY GREENWALD The financial restatements announced last week by American International Group Inc. and CNA Financial Corp., which stemmed at least in part from greater scrutiny of financial reinsurance transactions, will be far from the la Byline: JUDY GREENWALD ...
- Research articles 2005-05-09
- Nortel To File its 2006 Annual Reports mid March 2007 and Restate Certain Prior Period Results.(Financial report)
- TORONTO, ONTARIO, Mar 1, 2007 CCNMatthews via COMTEX -- - Financial restatements principally due to third party actuarial calculation errors originating prior to 2000 on liabilities for employee benefit plans and timing errors on the recognition of TORONTO, ONTARIO, Mar 1, 2007 CCNMatthews via COMTEX --...
- Research articles 2007-03-01
- Financial restatements: the changing rules of the game
- The "Numbers Game" was declared by Securities and Exchange Commission SEC Chair Arthur Levitt in 1998, challenging that the quality of financial reporting had been eroded by accounting practices seeking to manage earnings. ********** More than eight years later, companies are issuing restated financial statements at a significantly...
- Research articles 2007-03-01
- FASB Call to Action Solicits Input That May Lead to New General Standard Addressing Revenue and Liability Recognition Issues in Future Financial Statements
- Business/Technology Editors CANTON, Mass.--BUSINESS WIRE--Feb. 13, 2002 Softrax CEO Bob O'Connor Available to Speak on Details of Present General Standard and its Effects on Current Revenue Management Practices Recent studies, performed by the Financial Accounting Standards Board FASB, indicate that revenue is often the largest...
- Research articles 2002-02-13
- SEC investigates Terex financial restatements.(INDUSTRY UPDATE)
- Terex Corp, has announced the Securities and Exchange Commission is investigating its restatement of financial reports for 2000 through 2003, as well as other past transactions. Terex Corp, has announced the Securities and Exchange Commission is investigating its restatement of financial reports for...
- Research articles 2005-10-01
- Financial restatements up; misstated revenues most often the cause.(Corporate Project)
- The number of companies restating financials with the Securities and Exchange Commission SEC is increasing, according to a recent report by Huron Consulting Group, a national business and financial consulting practice. The U.S. House of Represent The number of companies restating financials with the...
- Research articles 2003-10-01
- ePlus Announces Financial Restatements Relating to Stock Option Grants
- HERNDON, Va. -- ePlus inc. (Nasdaq GM: PLUS), announced today that its previously issued financial statements for the fiscal years ended March 31, 2004 and 2005, as well as for the quarters ended June 30, September 30 and December 31, 2005, will be restated. The Company further announced that the...
- Research articles 2006-08-11
- The high cost of noncompliance: even without fines, violating regulations brings financial consequences.(MANAGEMENT)
- Compliance with rules and regulations is expensive. But the price of noncompliance is far worse: It can include prison, fines, firings, accounting overhauls, public censure, stock devaluation and bankruptcy. "The world changed after Enron and Sarbanes-Oxley," says Jeffrey Riffer, a compliance expert...
- Research articles 2005-09-01
- Holtsville, N.Y., Bar Code Scanner Maker Further Delays Financial Restatements.
- By Mark Harrington, Newsday, Melville, N.Y. Knight Ridder/Tribune Business News Jun. 26--A week after federal prosecutors secured a second guilty plea from one of its former executives, Symbol Technologies Inc. has again pushed back the date of its audited 2002 financial report,...
- Research articles 2003-06-26
- Financial Audit: Restatements to the Department of State's Fiscal Year 2003 Financial Statements
- This document consists of a report which basically reviews four key areas with respect to the restatements of State's fiscal year 2003 financial statements: the nature and cause of the errors that necessitated the restatements ; the timing of communicating the material misstatement to users of the financial statements; the...
- White papers 2005-09-20
- Financial Audit: Restatements to the National Science Foundation's Fiscal Year 2003 Financial Statements
- This paper reviews four key areas with respect to the restatements of National Science Foundation's NSF fiscal year 2003 financial statements: the nature and cause of the errors that necessitated the restatements, including planned corrective actions by the agency and its auditors; the timing of communicating the material misstatement to...
- White papers 2005-12-22
- GAO issues report on financial statement restatements
- In response to a request from Senator Sarbanes, the General Accounting Office has issued a report entitled, Financial Statement Restatements: Trends, Market Impact, Regulatory Responses and Remaining Challenges. In response to a request from Senator Sarbanes, the General Accounting Office has issued a report entitled, Financial Statement Restatements: Trends, Market...
- Research articles 2002-12-01
- An examination of the recently restated financial statements due to inappropriate lease accounting
- ABSTRACT The purpose of this paper is to describe the history surrounding the recent spike in financial statement restatements related to firms' accounting for leases. The restatements were largely caused by a letter from the SEC emphasizing the rules regarding appropriate accounting for leases. This paper explains why the...
- Research articles 2007-09-01
- Digimarc Corporation Announces Financial Results for 2004 and Anticipated Effect of Prior Period Restatements; Results Are Consistent with Preliminary Results Announced March 17
- BEAVERTON, Ore. -- Digimarc Corporation (Nasdaq:DMRCE) today announced its anticipated financial results for 2004 and anticipated effect of restatements of prior period financial statements. The Company's unaudited financial results for fiscal year 2004, and anticipated adjustments to certain prior period financial statements in 2003 and 2004, are consistent with the...
- Research articles 2005-04-05
- OccuLogix, Inc. Announces Restatements of Financial Statements Relating to Consolidation of OcuSense, Inc.
- OccuLogix, Inc. (NASDAQ: OCCX)(TSX: OC) announced today that it intends to restate its unaudited consolidated financial statements for the quarter ended March 31, 2008, its audited consolidated financial statements for the financial years ended December 31, 2007 and December 31, 2006 and its unaudited consolidated financial statements for each of...
- Research articles 2008-06-18
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