The number of financial restatements finally began to decline last year after a decade-long increase and will probably continue to fall as the Securities and Exchange Commission makes it easier for companies to avoid restatements that aren't likely to greatly affect investors.

According to a new report by research firm Glass Lewis, companies with U.S.-listed securities filed 1,270 restatements in 2007, down 17 percent from the peak year of 2006. One out of every 10 companies filed a restatement last year, compared to one out of every nine in 2006.

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