A "restatement" refers to the revision and reissuance of a company's financial statements to correct errors or reflect changes in accounting principles. This process ensures that the financial information presented to investors and stakeholders is accurate and complies with Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). Restatements can occur for various reasons, including mistakes in calculations, misinterpretation of accounting rules, or fraud. When a company issues a restatement, it often leads to a loss of investor confidence and can impact its stock price, as stakeholders reassess the company's financial health and integrity.