The overall number of restatements filed by public companies fell in 2012, but the largest U.S. companies registered a second year of distinct increase in the number of cases where companies needed to restate their financial statements.
Across all public companies, restatements fell from 820 in 2011 to 768 in 2012, according to the latest data from research firm Audit Analytics. Restatements peaked in 2007 at 1,213, but fell to 922 the following year and have fluctuated from 715 in 2009 to the 2011 high of 820.
