CFOs Are Content With Technology, Financial Reporting

CFOs are feeling pretty comfortable in certain aspects of their jobs, according to a recent study by Robert Half Management Resources. Around 40% of U. S. CFOs said they are confident in their companies' technology capabilities. And 34% are comfortable with the accuracy of their financial reporting as compared to three years ago.

Among public companies, 39% feel confident about the internal controls they have in place as well as corporate governance.

"The Sarbanes-Oxley Act has prompted public and private companies to better align their technology and financial functions. Replacing outdated business software with new systems has enabled firms to capture essential data for more accurate financial reporting and thus meet critical accounting mandates," said Paul McDonald, executive director of Robert Half Management Resources.

Another interesting survey finding is that CFOs report employee loyalty is better today than it was three years ago. "A competitive employment market has prompted many companies to enhance their retention efforts in order to increase job satisfaction and reduce attrition rates," explains McDonald.

The survey was based on responses from 1,400 CFOs of U.S. companies.

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