Not 1 year, 5 YEARS. They are restating back to 2001.
FNM estimates it will take 1000 man-years to correct their books.
The press release also says that it will take six to eight million labor hours to finish. 50 weeks times 40 hours per week is 2000 hours per year (one man-year) . Six million hours divided by 2,000 hours is THREE thousand man years to finish their books