Director General of Ula Restate
Company, Mohamed Hamid Nugdalla, asserted the company commitment to meet desires of all expatriates to obtain houses at main areas inside the capital , explaining that the MOU signed with SSWA set to serve Sudanese working abroad and implement the state policy in this connection.
Kinney and McDaniel (1989) analyze the stock price reaction for 73 firms that restate
between 1976 and 1985 and find that stock returns are negative between issuance of erroneous quarterly statements and its corrections.
Whether or not OFHEO requires Fannie or Freddie to restate
financial results for any past year, neither company's capital position is what one would expect of a triple-A rated financial institution.
It will also restate
the quarter to May 31 2003 upwards by $700,000 on top of the reported $12.7m.
This analysis indicates that companies that restated did not show lower levels of commitment to quality financial reporting than did firms that did not restate
. This evidence is consistent with the conjecture made by many of the companies that restated that they thought their method of accounting for leases was acceptable.
On a per-share basis the reduction totals 30 cents, more than four times the 7 cents-per-share drop the company forecast last April when it announced that it had discovered accounting irregularities and would have to restate
its audited financial results for 1998 and 1999 and its unaudited results for 2000.
The Santa Clara, California-based company said Monday that the SEC has concluded its review of the company's accounting for in-process R&D charges taken in connection with the acquisitions of Innovative Computer Concepts Inc in 1997 and Wayfarer Communications Inc in 1998 and that it will not be required to restate
any past financials as a result.
The consensus requires the entity to restate
the functional currency accounting bases of nonmonetary items as follows: The old reporting currency basis is translated into the new functional (local) currency basis at the exchange rates in effect at the date of the change.
Global Banking News-January 7, 2016--Credit Suisse to restate
TELECOMWORLDWIRE-7 January 2005-Nortel Networks to restate
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The apex bank said that there is no need for the bank to restate