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Restatements dip again in 2017, newest study shows

Tammy Whitehouse | May 30, 2018

Restatements took another downward dip in 2017, suggesting another year of incremental improvement in the quality of financial reporting, according to the newest study from Audit Analytics.

The total number of restatements declined in 2017 for the fifth consecutive year, from 873 in 2013 to 553 in 2017. The percentage of decline has reached double digits the past three years, nearly 12 percent in 2015, 10 percent in 2016, and nearly 19 percent in 2017, the report shows.

Reissuance restatements—those that are serious enough to necessitate withdrawing prior financial statements and issuing them anew—fell to 109 in 2017. That number was down from 128 in 2016 and 152 in...

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