Seventy-nine percent of chief financial officers (CFOs) feel that the overall quality of information in audited financial statements since the enactment of the Sarbanes-Oxley Act of 2002 (SOX), according to a 2017 Pulse Poll from the Center for Audit Quality.
Among the poll's other key findings are the following:
- Eighty-five percent of CFOs believe the internal control over financial reporting (ICFR) audit function has either greatly (34 percent) or somewhat (51 percent) helped their company.
- Top reasons for why the ICFR audit function helps the company include building trust among stakeholders and customers (26 percent), helping to produce accurate financial reporting (21 percent), and making the process more streamlined (21 percent).
This survey was fielded by the Glover Park Group, March 27–April 18, 2017. The number of survey respondents was 105 CFOs of publicly traded, US companies.