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CFOs Say that CEO and Chairman Roles Should Be Separate


Nov. 6, 2007 (SmartPros) In a national survey of chief financial officers and senior comptrollers conducted by Grant Thornton LLP, more than three-quarters (79 percent) believe that the roles of chief executive officer and chairman should be held by different people.



In addition, 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.

Survey results:

Do you believe the roles of CEO and chairman of the board should be independent of each other?

Yes 78.73 % 
No 20.81 %

Should the SEC revise 8-K rules to require reasons for all company dismissals of auditors, for all auditor resignations and for all instances in which the auditor chooses not to stand for reappointment? 

Yes 75.57 % 
No 21.72 %

Do you believe shareholders in public companies should have greater access to the proxy? 

Yes 66.06 % 
No 29.86 %

Do you 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?

Yes 68.78 %
No 29.41 %

Do you consider the newly issued guidance (AS 5) from the SEC on internal controls and the new audit standard for auditing internal controls to be a significant improvement over previous rules? 

Yes 43.89 % 
No 47.96 %

2007 SmartPros Ltd. All rights reserved.

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