- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Maria L. Murphy2020-09-08T17:59:00
According to Audit Analytics’ latest annual restatement study, the total number of restatements dropped for the fifth consecutive year to a 19-year low of 484, with revenue recognition still the biggest driver.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
The total number of restatements and individual companies disclosing restatements in 2021 rose to their highest levels since 2006, according to Audit Analytics’ latest annual review.
Financial statement restatements by public companies declined in 2020 to their lowest level in 20 years, according to the latest Audit Analytics study.
Determining transaction price and identifying performance obligations are among the most challenging implementation issues in accounting for revenue recognition, according to recent guidance from FASB.
Chinese authorities banned PwC’s Chinese unit from performing audits in the country for six months, labeling the subsidiary’s flawed audit work as complicit in the failure of giant property developer Evergrande.
Erica Williams was reappointed to a second term as chair of the Public Company Accounting Oversight Board after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.
Software company Autodesk said it won’t restate several years of financial statements following an audit committee investigation into potential accounting misconduct.
