If a company must restate its financial statements,per the Sarbanes-Oxley Act,the

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Per the Sarbanes-Oxley Act, if a company must restate its financial statements, then the CEO and CFO must relinquish any bonus or incentive-based compensation received during the 12-month period following the first public issuance or filing of the financial document that contained the error. This is to hold them accountable for any inaccuracies in the financial statements. The CEO and CFO are not required to resign or face criminal charges in this scenario. Finding a new board of directors is also not specifically mentioned in relation to financial restatements.

If a Company Must Restate Its Financial Statements,per the Sarbanes-Oxley