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Vancouver, Wash.-based Barrett Business Services Inc. (NASD: BBSI) announced today it is evaluating its accounting for legal expenses related to its self-insured workers' compensation program, and that it may need to restate its financials for the previous five years.
BBSI currently recognizes legal expenses as they are incurred, but may need to include estimates in its accrued liabilities for expenses related to open workers' compensation claims, as well as incurred but not reported claims.
Although it may need to restate its financials for up to the previous five years, the company notes that any potential change will have limited impact on current and future earnings. The review should be completed by the end of March.