Revising the Books Dogs U.S. Companies - This article from Reuters discusses the increase in the number of companies restating their earning due to tougher questioning by internal auditors and increased regulatory pressures.

"Financial restatements and earnings revisions continue to dog Corporate America and experts say the trend will continue as executives and their accountants rush to clean up past messes. There have been at least 60 instances this year where companies have had to either restate their earnings or have been summoned by regulators to clarify published numbers, according to Reuters Research. Last year, 70 companies restated their earnings in the first quarter of 2003, up from 56 for the same period in the previous two years, a study by Huron Consulting, which tracks restatements of half-yearly and annual results, showed. The reasons for restating earnings statements have more or less remained the same -- varying from overly aggressive accounting, to changes in internal policies, to miscounting."