Restatement of financial information: a first approach through the literature

Restatement is the process of revising a company’s annual accounts to correct errors discovered after financial statements’ formulation. This process often involves a significant breach of management creditability. This study proposes a literature review using the PRISMA 2020 methodology and the VOS viewer software to identify the main lines of previous research. After analysing the results, three areas of study on accounting restatement have been identified: 1) the different proxies used, 2) the determinants or causes of restatement causes, and 3) the consequences and effects of the restatement process. The main conclusion is that, although restatement is not a very common process, it does entail a strong alteration of trust between agents and that it has some notable causes and consequences. Finally, potential future lines of research in this area are outlined.