What does it mean to restate earnings?
What does it mean to restate earnings?
(also restatement of earnings) a statement about a company’s profit and loss which has been changed, for example, because mistakes have been found: The selloff followed an earnings restatement and an accounting scandal.
When Should financial statements be restated?
Restatements are necessary when it is determined that a previous statement contained a “material” inaccuracy. This can result from accounting mistakes, noncompliance with generally accepted accounting principles (GAAP), fraud, misrepresentation, or a simple clerical error.
What companies restate financial statements?
The Securities and Exchange Commission today charged The Kraft Heinz Company with engaging in a long-running expense management scheme that resulted in the restatement of several years of financial reporting.
Are restatements law?
Restatements are highly regarded distillations of common law. They are prepared by the American Law Institute (ALI), a prestigious organization comprising judges, professors, and lawyers. In essence, they restate existing common law into a series of principles or rules.
Who audits Kraft Heinz?
PricewaterhouseCoopers LLP
Table of Contents
| Proposal 3 – | Advisory Vote on the Frequency of an Executive Compensation Vote | For “1 Year” |
| Proposal 4 – | Approval of The Kraft Heinz Company 2016 Omnibus Incentive Plan | For |
| Proposal 5 – | Ratification of the Selection of PricewaterhouseCoopers LLP as Independent Auditors for 2016 | For |
Who is Kraft Heinz auditor?
According to reports, Buffett told a group of reporters ahead of the question-and-answer session Saturday at Berkshire’s annual meeting in Omaha, Neb., that Kraft Heinz Co.’s KHC, -0.14% auditor, PricewaterhouseCoopers, hadn’t signed off on the company’s 10-K filing.
