In addition, more than one-third (34 percent) of respondents said they are more optimistic about the accuracy of their companies' financial reporting, according to the survey of 1,400 CFOs, developed by Robert Half Management Resources.

Thinking about your business today compared to three years ago, in which of the following areas are you more confident? Technology capabilities  40% Accuracy of financial reporting 34% Loyalty of employees 28% Level of internal controls and corporate governance 21% Business growth opportunities 16% None  4% Don't know/no answer 4% *multiple answers allowed. Source: Robert Half Management Resources

Among public companies, 39 percent of CFOs polled feel most confident about the level of internal controls and corporate governance in their organizations, suggesting the impact of the Sarbanes-Oxley Act.

"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 Replacing outdated business software with newer systems has enabled firms to capture essential data for more accurate financial reporting, and thus meet critical accounting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.