Numbers Don’t Lie, Until They Do
A good number of controllers, financial analysts, accountants, and auditors don't completely trust the accuracy of their company's financial data.
Investors Overreact to Restatements in the Short Term
Share prices fall unrealistically low around the time of restatement announcements but then show abnormal positive returns over the longer term.
ComScore to Restate Three Years of Financials
An internal investigation concludes that the company incorrectly recognized nonmonetary transactions as revenue.
Most Companies that Make Restatements Avoid 8-Ks
But are they doing so just because the dollar amounts involved are not material? Research suggests another, less-wholesome motivation.
Restatements Infect Reporting at Peer Companies
Counterintuitively, corrections of misreported financials actually prompt peers to imitate the misreporting, a study finds.