The purpose of this study is to investigate the associations among CEO power, innovation activities, and financial restatement for firms publicly listed in Taiwan from 2007 to 2019. This article is different from previous studies in that I use five variables to measure CEO power and innovation activities are measured by dividing the average R D expenditure over the four-year period by the total assets. The empirical results show that firms with greater CEO power have higher occurrence of financial restatement. Firms with more innovative activities invested have lower probability of financial restatements, implying the strength of CEO power and research and development activities are the key factors affecting the quality of financial statement.