This study examines the character of a board (i.e., its size, independence, director's tenure, gender diversity, competence, ethnicity, status, age and position of its founder) on the financial restatement of Malaysian Public Listed Companies (PLCs). The study found board size, multiple directorship, political connections and position of the founder has a significant relationship with financial restatement. The results support the findings of the Resource Dependence Theory and the Agency Theory.