Financial statement restatements by public companies declined in 2020 to their lowest level in 20 years, according to a recent study.

Audit Analytics’ annual financial restatements review released last month examined trends for public companies from 2001 through 2020. The analysis found 364 companies filed restatements in 2020, a record low number for the years included in the report.

Maria L. Murphy, CPA, is a regular contributor to Compliance Week. She is a senior content management analyst, accounting and auditing products, CCH tax and accounting North America for Wolters Kluwer....