At one point, more than 60 "restatement teams" were beavering away at Fannie, trying to make sense of its labyrinthine books.
C1 Restatement by Cable Company Charter Communications, struggling to keep subscribers in the face of several investigations, will restate its financial results for 2000 and 2001 to record an additional $2.6 billion in costs and liabilities.
20, 2000 (restatement announcement).
We utilize a matched-pairs research design consisting of 75 restatement firms (obtained through the GAO restatement sample) and a set of 75 non-restatement control firms.
In addition, the right to privacy can also be protected through private civil action, either by means of delict/tort, a breach of confidence, or contractual remedies (see National Media v Jooste 1996 (3) SA 262 (A); R v Department of Health [2001] Q.B. 424; Restatement (Second) of Torts, American Law Institute, 1977).
It was a regrettably large sample: 919 restatements by 845 public companies.
Last year, there were 270 restatements, up from 233 in 2000 and just 116 in 1997; the number of restatements so far this year is not available.
In 2000 alone, the latest year for which statistics are available, there were 156 restatements, compared with an average of 49 a year from 1990 through 1997.
Yet, whereas America's Securities and Exchange Commission SECC) has made 1,200 companies correct their audited accounts in the past five years, Britain's equivalent, the Financial Reporting Review Panel, has demanded only 15 restatements in the past dozen.
There were 206 restatements of annual audited financial reports last year, up from 183 in 2002, according to a summary of the study, which is expected to be released today by the Huron Consulting Group, which was founded by senior consultants from several firms, including the Arthur Andersen accounting firm.
