The investigation also found that during the financial restatement period, this environment of weak financial controls and under-supported accounting functions allowed accountingerrors to occur, some of which arose from certain instances of intentional misconduct to improve the financial results of specific business segments.
Thus, while gross restatements may be up for a segment of public companies, the underlying quality of those restatements is suggestive of a further reduction in acknowledged accounting-related errors or transgressions.