The Audit Analytics data base of Director and Officer Changes tracks all departures and engagements since January 1, 2005. In this study we examined recent trends in CEO and CFO Changes over the last 3 years. During calendar year 2007, there was a significant increase in C-level executive departures from public companies. The number of CEO departures increased 17.97% in comparison to 2006, while the number of CFO departures increased 17.18%. Additionally, companies that filed financial restatements during the years 2005 to 2007 were significantly more likely to be associated with C-level executive changes.