TAILIEUCHUNG - Financial Statement Restatement Database

Oracle Big Data Appliance brings Big Data solutions to mainstream enterprises. Built using industry-standard hardware from Sun and Cloudera’s distribution including Apache Hadoop, the Big Data Appliance is designed and optimized for big data workloads. By integrating the key components of a big data platform into a single product, Oracle Big Data Appliance delivers an affordable, scalable and fully supported big data infrastructure without the risks of a custom built solution. The Big Data Appliance integrates tightly with Oracle Exadata and Oracle Database using Oracle Big Data Connectors, and seamlessly enables analysis of all data in the enterprise – structured. | United States General Accounting Office Washington DC 20548 January 17 2003 The Honorable Paul S. Sarbanes Ranking Minority Member Committee on Banking Housing and Urban Affairs United States Senate Subject Financial Statement Restatement Database On October 4 2002 we issued a report to you entitled Financial Statement Restatements Trends Market Impacts Regulatory Responses and Remaining Challenges Washington . GAO-03-138 . That report included a listing of 919 restatements we identified as having been made because of accounting irregularities between January 1 1997 and June 30 2002. Since its release the report has drawn considerable attention from academics and other researchers and we have received numerous requests for additional data about these restatements. As a result and with the agreement of your office we are releasing our database of information collected from public sources on the 919 restatements. We encourage researchers and the public to consider our objectives scope and methodology enclosure I and engage in their own analyses of the data contained in our restatements database enclosure II . In addition to providing the name of each company associated with a restatement announcement we are including the company s stock ticker symbol the market on which the stock was trading at the time of the announcement the date of the announcement the entity that prompted the restatement and the reason s for the restatement. We are not releasing stock price or market capitalization data since we obtained this information from proprietary sources but we are including the number of shares outstanding for each company. As we stated in our October report certain of these items such as the entity that prompted the restatement and the reason for the restatement are subject to interpretation and other researchers may categorize certain restatements differently. The database we are releasing today is an updated version of the one we used for the original report. It .

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