In a recent survey, 33% of chief financial officers said they are more confident in the accuracy of their companies’ financial reporting today.

Thirty-two per cent of respondents said they are more assured about their employee’s loyalty and 27% said they are more confident in their companies’ technology capabilities.

The survey was developed by Robert Half Management Resources, a provider of senior-level accounting and finance professionals on a project and interim basis. It was conducted by an independent research firm and includes responses from 270 CFOs from a stratified random sample of Canadian companies with 20 or more employees.

“Many companies have invested in technology over the past few years to update obsolete systems and improve operational efficiencies,” said Paul McDonald, executive director of Robert Half Management Resources. “The Sarbanes-Oxley Act has prompted public and private companies to better align their technology and finance functions. Replacing outdated business software with newer systems has enabled firms to capture essential data for more accurate financial reporting, and thus meet critical accounting mandates.”

McDonald pointed out that staff loyalty also ranks high on the list of areas in which CFOs feel confident about their businesses. “A competitive employment market has prompted many executives to enhance their retention efforts in order to increase job satisfaction and reduce attrition rates,” he said.