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[$$] Companies Are Finding More Accounting Flubs

The number of material accounting mistakes made by U.S. public companies declined every year since 2006, but preliminary data for this year indicate a reversal. During the first six months of 2018, 65 companies detected accounting mistakes significant enough to require them to restate and refile entire financial filings to regulators, compared with 60 companies for the same period last year, according to Audit Analytics. The Massachusetts-based research firm analyzed disclosures from more than 9,000 U.S.-listed going back to 2005, identifying companies that had to reissue their financials because prior documents were deemed no longer reliable.