The purpose of this research is to investigate the impact of re-presentation of financial statements on the inefficiency of investment through the mediation of financial constraints. This research is an applied research in terms of its nature and descriptive method and in terms of its purpose, and since in the current research the current state of the variables has been analyzed by collecting information through past information, it is in the ranks of descriptive studies. And it is included after the event. In the course of conducting this research, three hypotheses were formulated and 130 companies were selected through systematic elimination sampling for a period of 6 years between 2014 and 2019 and were analyzed in Excel software using Eviuse statistical software. The results of the hypothesis test showed that re-presentation of financial statements has a direct effect on over-investment and under-investment. And financial restrictions have a direct effect on over-investment and under-investment. Also, re-presentation of financial statements has a direct effect on under- and over-investment through the mediating role of financial restrictions.