Imagine you are CEO of a publicly traded company, and one of your employees has found an error in the books from the previous year. The error is that your company owes another company $1 million. The books from last year are closed and audited. There was no shady embezzlement on the part of your employees or the company, it was an accounting error due to complex contract agreements.
You have 2 choices:
Open back up the books, contact the other company, admit the mistake, and pay back the $1 million.