Also, three-quarters of the respondents think that the Securities and Exchange Commission should revise the 8-K rules to require reasons for all company dismissals to auditors, for all auditor resignations and for all instances in which the auditor chooses not to stand for reappointment.

CFOs were split when asked if the SEC's newly issued guidance on internal controls (AS5) and the new audit standard for auditing internal controls are an improvement over previous rules. Forty-seven percent said no, and 43 percent said yes.

Other findings from the survey: 69 percent believe that small cap companies who test internal controls (according to Sarbanes-Oxley) will be looked upon more favorably by investors than those who do not test internal controls; and 66 percent believe shareholders in public companies should have greater access to the proxy.