In this case, you will research a company that filed restatements in recent years to correct one or more misstatements.For general background on restatements, you can refer to the Center on Audit Qualitys review of financial restatements over 2003-2012 authored by Professor Susan Schoz. lease find an attached file. A companyname is KBR (2014).

please answer the following questions.

1. Briefly explain the nature of the restatement and the underlying accounting issues. Cite the authoritative literature (e.g., the Codification, pre-Codification GAAP, or SEC documents) on the underlying accounting issues. Are the underlying issues new or were they present in prior periods as well? Did the company also restate prior period results?