GE says it won’t need restatement

General Electric Co. said it wouldn’t restate results because a review that found deficiencies in how it books spare-parts revenue also showed that those errors didn’t create a “material weakness.”

GE and the Securities and Exchange Commission have been reviewing the Fairfield, Conn.-based conglomerate’s accounting practices and policies since January 2005.

The reviews have focused on revenue recognition and profit accounting and have spanned GE’s finance, locomotive, aviation, healthcare and energy units.