Restatements - 10 Year Comparison

Compares and explains financial restatements for the past 10 years through 2010. Details total restatements by year, average number of days, average number of issues, and percentage of stealth restatements. The quantity of restatement and non-reliance disclosures peaked in 2006 with 1795 disclosures. Each of the three years thereafter experienced a decline in the number of disclosures with 683 restatements in 2009. After three years of decline, financial restatements experienced an uptick in quantity in 2010, largely due to non-accelerated filers, but the severity remained low.