A study conducted of financial statement restatements during the period of 2007

Question

A study conducted of financial statement restatements during the period of 2007 through 2009 indicated a decline in the number of restatements that were attributed to each of the following except for

Improved audits of financial statements

Improved reliability of internal controls

A more relaxed approach of the SEC regarding materiality and the need to file restatements

Companies making and reporting fewer mistakes or catching fewer mistakes

Improved audits of financial statements

Improved reliability of internal controls

A more relaxed approach of the SEC regarding materiality and the need to file restatements

Companies making and reporting fewer mistakes or catching fewer mistakes

Explanation / Answer

Improved audits of financial statements

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