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Restatements jump 67% after Sarbanes-Oxley

Restatements jump 67% after Sarbanes-Oxley

by Rick Turoczy on August 2, 2006

The number of U.S. companies restating their financial results increased 67% in the three years since lawmakers tightened accounting rules, a government study found.

More than 520 companies restated results through the first nine months of last year, the Government Accountability Office said in a report released Tuesday. That compares with 314 in 2002, the year President George W. Bush signed the Sarbanes-Oxley Act into law.

Restatements jump 67% after Sarbanes-Oxley

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