• OpenAccess
  • Study on Characteristics of the Financial Report Restatements  [AFM 2015]
  • DOI: 10.4236/jss.2015.311001   PP.1 - 7
  • Author(s)
  • Jinping Gao, Yu Chen
  • Taking financial report restatements of A shares Listing Corporation in Shanghai Stock Exchange from 2012 to 2014 as research samples, this paper analyzes the characteristics of the financial report restatement from multiple perspectives. Research results show that the financial report restatements of the listing corporation have five external characteristics. 1) It is a certainly universe phenomenon about financial restatements. 2) Listed companies belong to manufacturing or in underdeveloped areas more prone to restate. 3) Parts of the companies are “regulars” of financial restatements. 4) Majority restatement announcements are correction notice. 5) Overall timeliness of restatement announcements is strong and supplementary notice lag time is the longest. There are three internal characteristics about financial restatements. 1) The financial restatements related to governance issues are the most. 2) More financial restatements make the low- level errors. 3) Financial report disclosure format of the listing companies is not standardized. Finally, related suggestions are put forward based on the above research results.

  • Financial Report Restatements, External Characteristics, Internal Characteristics
  • References
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