There are too many restatements.
I’d wager that everybody reading this column agrees with those first five words, and that’s why I used them to start off my first column for Compliance Week. Of course, those words don’t provide any insight. In the rest of this column and the columns that follow, I do hope to provide Compliance Week readers with insight into the sometimes opaque world of public company financial reporting: how it works, how it should work, and how it can be improved. I’ve seen the issues as an auditor, as a member of Arthur Andersen’s professional standards group, ...