ICON plc (NASDAQ: ICLR) announced that its audit committee has completed an investigation into the company's accounting practices and controls, according to a press release statement.

The clinical research organization said it will restate financial results for 2023 and 2024, as well as the first nine months of 2025, due to revenue recognition issues identified during the investigation. The company said revenue was overstated in 2023 and 2024, with the amount in each year below the previously announced upper limit of 2%.

ICON said the investigation found similar issues in 2025, though the revenue impact was smaller than in previous years. The company stated there was no impact on customers, operations or cash flow from the accounting issues.

The company expects to complete its financial statements and external audit process in the coming weeks. ICON plans to file its Annual Report on Form 20-F upon completion, which will include details of material weaknesses and remediation plans.

"We look forward to reporting our results once the audit process is complete and to providing a broader business update, including details of backlog policy changes, recent business wins and cancellation trends," said CEO Barry Balfe.

The Dublin-based company said its consolidated financial statements for the year ended December 31, 2025 are not yet available, and preliminary results referenced in the announcement may differ from actual results when finalized.

ICON employed approximately 40,100 people across 97 locations in 55 countries as of December 31, 2025.