Menlo Park, Calif. (June 16, 2004) -- Spurred by sweeping reforms in the accounting profession such as Sarbanes-Oxley, many privately held companies are examining their financial reporting practices and implementing changes voluntarily, according to a recent survey.

Among the 1,359 chief financial officers at private U.S. companies with more than 20 employees polled, 48 percent indicated that they've revised their accounting procedures since the advent of new regulations, particularly in the areas of payroll and benefits -- cited by 44 percent of those who've made changes.

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