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Restatement ramifications: fewer board seats; Research: Accounting problems make for less active directors.

Publication: Crain's Chicago Business
Publication Date: 06-JUN-05 		Format: Online - approximately 582 words
Delivery: Immediate Online Access
Full Article Title: Restatement ramifications: fewer board seats; Research: Accounting problems make for less active directors.(Focus: Corporate Boards)

Article Excerpt
Byline: christina le beau

Does a director's reputation suffer when a company restates earnings?

It might, according to new research by a University of Chicago professor. In a paper published last month in the Journal of Accounting Research, Suraj Srinivasan, assistant professor of accounting at the university's Graduate School of Business, makes the case that outside directors lose credibility-and other board positions-when the companies they serve issue income-decreasing restatements. Not everyone buys his conclusions, but the research should be enough to make directors nervous.

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