To re-establish investor confidence, the Sarbanes-Oxley legislation made executive certifications of financial statements a permanent requirement for all publicly traded companies in the U.S.  In doing so, they introduced a newly defined term “disclosure controls and procedures.” This expanded the concept of Internal Controls over Financial Reporting.

Internal controls over financial reporting (ICFR) is mandated by the SEC for public firms to comply with the Sarbanes-Oxley Act of 2002. ICFR is essential for establishing public trust in capital markets and financial statement issuers.

SOX Section 302 became effective August 29, 2002. It stated:

“The executive certification requirement applies to companies filing quarterly/ annual reports with the SEC under Section 13(a) or 15 (d) of 1934 Exchange Act.”  Since the implementation date for SOX 302 was well before SOX 404, many questions surfaced regarding the adequacy of procedures established.  In addition, many companies have not significantly revisited their procedures since initially establishing them.

SOX Section 302 certification requirements are essential to proper financial reporting.  All personnel should have a strong understanding of the requirements and their obligations related to SOX Section 302.  This course is designed for CPAs to provide them with a deeper understanding of the requirements behind SOX Section 302, the meaning of the certifications required from management and an analysis of processes that should be continually re-evaluated for improvement.

Information within this course comes from readily available public domain documents and is utilized by the trainer as a supplement for relaying the course content.

Note: The concepts outlined in this course are up to date and relevant in regards to the Sarbanes-Oxley legislation. Although there have not been any changes in the legislative concepts of the law since it’s release in 2002, some aspects of executing the work have evolved. This speaker is preparing a series of courses titled “Sarbanes-Oxley 20 years later”. Those courses can be found individually on the platform and would be beneficial for anyone involved with compliance.

NOTE: The Instructor has created 5 new segments on Sarbanes-Oxley Update - 20 Years Later:
Sarbanes-Oxley Update - 20 Years Later: Accounting Risk Assessment Considerations
Sarbanes-Oxley Update - 20 Years Later: Sourcing Emerging Risks Part 1
Sarbanes-Oxley Update - 20 Years Later: Evaluating Testing Processes
Sarbanes-Oxley Update - 20 Years Later: Sourcing Emerging Risks Part 2
Sarbanes-Oxley Update - 20 Years Later: Examining Fraud Risks

Learning Objectives
  • Discover background Section 302 requirements
  • Explore other disclosure requirements
  • Identify disclosure controls and procedures
  • Explore the management process
  • Recognize the differences between Sections 404 and Section 302

 

Last updated/reviewed: August 28, 2023

Included In Certifications

This course is included in the following Certification Programs:

16 CoursesSarbanes-Oxley (SOX) Certification

  1. Sarbanes Oxley Overview
  2. SOX: Authoritative Bodies
  3. Sarbanes-Oxley (SOX) Standards - Evolution
  4. Information Technology General Controls Primer
  5. COSO 2013 Overview
  6. Sarbanes-Oxley (SOX) Section 404
  7. Sarbanes-Oxley Section 302: ICFR
  8. Sarbanes-Oxley (SOX) And Fraud Sections
  9. Sarbanes-Oxley (SOX) - Top Down Risk Assessment Part 1
  10. Sarbanes-Oxley (SOX) - Top Down Risk Assessment Part 2
  11. Sarbanes-Oxley (SOX) - Entity Level Controls
  12. Sarbanes-Oxley (SOX) Identifying and Documenting Controls
  13. Sarbanes-Oxley (SOX) Testing
  14. Sarbanes-Oxley (SOX) - Assessing Data Impact
  15. XBRL - Connection to SOX 302/404 and Critical Roles
  16. Tools For Sarbanes-Oxley Compliance

18 CoursesFinancial Statement Preparation, Reporting and Auditing Certification

  1. Financial Statement Introduction
  2. GAAP Principles, Assumptions and Considerations
  3. GAAP Presentation of Financial Statements
  4. Management Discussion and Analysis (MD&A) Update
  5. Sarbanes Oxley Overview
  6. Sarbanes-Oxley Section 302: ICFR
  7. XBRL (Extensible Business Reporting Language) Introduction to Basics - Updated
  8. XBRL - Connection to SOX 302/404 and Critical Roles
  9. Analyzing Financial Ratios - Solvency, Liquidity and Debt
  10. Analyzing Financial Ratios - Leverage
  11. Analyzing Financial Ratios - Performance And Efficiency
  12. Financial Statement Audit in Accordance with GAAS - General Standards
  13. Financial Statement Audit in Accordance with GAAS - Conducting the Audit
  14. Financial Statement Audit in Accordance with GAAS - Auditors' Report and Opinion
  15. Introduction to Accounting for Income Taxes Based on Income
  16. Practical Application For Accounting For Income Taxes Based On Income Part 1
  17. Practical Application For Accounting For Income Taxes Based On Income Part 2
  18. FASB Codification Research System
102 Reviews (338 ratings)

Reviews

5
Anonymous Author
Very happy to take this course. Complete, concise, well developed.

5
Anonymous Author
This was a well-organized course. I would recommend to anyone.

3
Anonymous Author
The video content and slides do not match. The section labeled "Improvements" is in the slides but not reflected in the video, but the course navigation indicates improvement but the video content for that is "Management Requirements" when the video starts. This causes confusion. Also the material does not seem to clearly cover all the test questions.

4
Anonymous Author
This course provided a lot of information for SOX 302. It's a good course in understanding the responsibilities of the CEO & CFO when signing off on the monthly financials. Everyone involved in the financial process would benefit from taking this course. Lynn did a great job as usual.

5
Anonymous Author
Another great course on Sarbanes-Oxley by Professor Lynn. She definitely does not disappoint. She reminded me of how SOX is not just about SOX 404 (though most expensive and time consuming) but other sections such as SOX 302. Thank you.

5
Anonymous Author
Good coverage of an unknown topic. The course is laid out nicely and easy to follow and understand the concepts. The comparison to 404 really enhances the differences between the two sections, but also how they are related.

5
Anonymous Author
It was very well structured, well-paced and easy to follow training course. Structuring the course in segments as well as offering a continuous play option is perfect for any learning style. The examples given were good.

5
Anonymous Author
This is another great course by Lynn Fountain. I recommend all of her courses. This course does a great job of explaining the history and requirements of Section 302 in contrast to Section 404.

5
Member's Profile
Lynn is a great presenter. Very organized and detailed approach to the subject. I recommend this class for both new individuals just learning about SOX and a refresher for us old timers.

5
Anonymous Author
This class was helpful. I have spent more time on section 404 responsibilities and needed more background on the 302 requirements and how the two sections fit together.

3
Anonymous Author
I think this was lots of facts and just not in my specific area so it felt like lots of things to remember. But, I anyway gained a good basic understanding on 302!

4
Anonymous Author
This course is full of information about SOX 302. The instructor never fails me, the course was outlined very well and explained everything in detailed.

5
Member's Profile
Lynn did a good job describing the difference between 302 and 404, about the disclosures and what was required to be in the disclosure (as far as wording).

4
Member's Profile
This course was informative, and Lynn did a good job in her explanations and examples in order to bring this subject matter to an everyday understanding.

5
Member's Profile
This course provide a clear understanding of the SOX 302 and comparison with SOX 404, multiple example are being used to explain the disclosure process.

4
Anonymous Author
Perfect course.Stated learning objectives were met, stated prerequisite requirements were appropriate and sufficient and instructor was effective.

4
Anonymous Author
This course discussed the requirements of section 302 and differences from section 404 concisely, however the test questions are a bit confusing.

4
Anonymous Author
This provided a helpful checklist of considerations. The emphasis on the 302 certification process being an iterative process was important.

5
Anonymous Author
A brilliant course by Lynn! It was good to have brought out both the similarities and differences and relationships between 302 and 404.

5
Anonymous Author
The course covers the main points of the SOX 302 requirements and explain the difference against the SOX 404, which is very useful too.

4
Member's Profile
I don't like how they assumed we already took the 404 course. I did like how each are was broken down to key concepts and sections.

5
Member's Profile
good course although in my opinion could focus a little bit more about the main differences between 302 and 404 wasnt totally clear.

5
Member's Profile
I was impressed at the simplicity of the content and the delivery as well. I consider myself well versed now on Section 302 of SOX

4
Member's Profile
The content of this course was presented clearly. The instructor was knowledgeable and contributed meaningfully to the material.

5
Member's Profile
The discussion was good, very informative and focus on the SOX 302. Also, it provided the differences between SOX 402 and 302.

4
Anonymous Author
Picked up a lot of good information that explained the importance of the Disclosure and Audit Committee and their function.

5
Member's Profile
The instructor chanllenges ICFR competencies! This course is a must for any individual involved in financial compliance!

4
Anonymous Author
another informative class. Section 302 is always and an extremely interesting subject and Lynn did not fail to deliver.

5
Member's Profile
Very good training course to refresh Section 302. Certifications pushed down to funtional areas foster accountability.

4
Anonymous Author
I think that this course gave good food for thoughs when emphasizing the need to regularly revisit the 302 process!

5
Anonymous Author
This course provided a good overview of Sarbanes Oxley Section 302 and was very helpful in enhancing the knowledge.

5
Member's Profile
A g.ood course on Section 302. I have been around 404 for years and learned a lot of new things with this course.

5
Anonymous Author
Another solid course. I think it's likely time to reassess SOX after 20 years - I'm sure it can be improved upon.

5
Anonymous Author
This course is interesting and highly informative. Nothing surprised me. Everyone will learn from this training.

5
Member's Profile
This course really brought to light the differences between Section 404 and Section 302, in a very clear way.

4
Anonymous Author
Section 302 was detailed to understand, 402 vs 302 can be side by side comparison to get more visibility.

5
Anonymous Author
Excellent overview of Sarbanes Oxley section 302 and how management can satisfy its compliance obligations!

5
Anonymous Author
Excellent and clear overview of the S302 requirements and their relation to S404. Highly recommended!

4
Anonymous Author
I don't have an idea about the difference between SOX 302 and SOX 404 until I watched this training.

5
Anonymous Author
This course was excellent and provided very important information that I will utilize in the future.

5
Anonymous Author
It explains the difference between 404 and 302 and how to improve the 302 certification process.

5
Anonymous Author
Another good course. Appreciated how the material highlighted the differnces between 404 and 302

5
Member's Profile
great detail of the review by the instructor. Good explanation between the 302 vs 404 sections.

5
Anonymous Author
Great summary of SOX Section 302 ICFR requirements fir internal control and financial reporting

5
Anonymous Author
Very organized. Great examples. All staff at management level or above should take this course.

4
Anonymous Author
Excellent discussion of 302 history, expectations, and challenges. Well-presented and concise.

4
Anonymous Author
This was a good overview of SOX section 302 / ICFR. Course content were clear and to the point

5
Member's Profile
Gave a good outline of an area that I've seen often but was not involved with significantly

5
Member's Profile
Not as heavy as section 404 in materials, but substantial enough which was presented nicely

5
Anonymous Author
Very well documented section Very well documented section Very well documented section

4
Anonymous Author
Provided more detail than I was aware of on 302. Gave me some work to do. Good overall.

4
Member's Profile
Instructor does a nice job of giving enough detail and background supported by examples

5
Anonymous Author
Great overview of SOX 302 and good comparisons of the differences between 404 and 302.

5
Anonymous Author
This course was very interesting. The instructor presented the course materials well.

4
Anonymous Author
very detailed and well organized slides. very detailed and well organized slides.

4
Anonymous Author
Sarbanes-Oxley Section 302: ICFR - highlights the difference between 404 & 302

4
Member's Profile
Good course. Wish more time was spent on the differences between 404 and 302.

3
Member's Profile
Course was very straightforward and easy to follow, nothing else to be added.

5
Anonymous Author
Great course to understand the different aspects of the 302 and 404 sections.

4
Anonymous Author
Course is well developed, structured and presented. Good review information.

5
Member's Profile
Information is effectively explained by the instructor with clear examples.

5
Anonymous Author
This a good course. Could have been shortened slightly. But well delivered.

4
Anonymous Author
Nice . It was good training. The explanation and the materials were good.

4
Anonymous Author
I was surprised to learn section 302 was effective before section 404.

5
Anonymous Author
Good overview and introduction to SOX 302 and good delivery of material

3
Member's Profile
Very good course, Its good to have a one presentation rather than many

5
Anonymous Author
Great course to present the differences between section 404 and 302.

4
Member's Profile
Good course to refresh on the requirements of the SOX certification.

5
Member's Profile
This course provides a good overview of Sarbanes Oxley Section 302.

5
Member's Profile
Very good overview of differences between 302 and 404. Thank you.

4
Anonymous Author
Good training providing an introduction and overview of SOX 302.

4
Member's Profile
Great course, it is a good overview of the SOX / ICFR regulation.

5
Anonymous Author
Excellent overview of the content and high level review of 404.

4
Anonymous Author
This course is filled with a lot of information on Section 302.

4
Anonymous Author
The way that the topic is explained is very easy to understand

4
Member's Profile
The course was nice and concise being clear in its objective.

5
Member's Profile
Lynn does a great job on explaining SOX 302 and requirements.

4
Anonymous Author
Needed to re-read slides a few times to have them make sense!

3
Anonymous Author
good for me and served my needs as a continuing cpa and cia

4
Member's Profile
I dont have anything else to give as feedback not applicable

5
Member's Profile
Overall a good lecture on the requirements of section 302.

4
Anonymous Author
Good overall refresher course to cover off on these areas.

5
Member's Profile
It was an eye opener to what disclosure means and entails

5
Member's Profile
Good course. Goes in to appropriate details to explain.

4
Member's Profile
efficient and effective presentation of a tough subject.

5
Anonymous Author
Understandable, Worth the material, Easy learning, Simple

4
Member's Profile
Good course and the pace of information given was great.

4
Member's Profile
Good description of the differences between 404 and 302.

4
Anonymous Author
Great discussion regarding purpose and importance of 302

4
Anonymous Author
Good coverage of 302 coupled with a comparison to 404.

4
Member's Profile
great summary of the differences between 302 and 404.

5
Anonymous Author
Oh boy - this was a difficult one. But we got there

4
Anonymous Author
Effective review of 302 and introduction to ICFR.

5
Anonymous Author
Great explanation of elements of SOX 302

5
Anonymous Author
Good over view and insight.

4
Member's Profile
Great Presentation

4
Anonymous Author
Very informative.

4
Anonymous Author
Good overview.

4
Member's Profile
Great content.

4
Anonymous Author
valued course

5
Member's Profile
great!

5
Anonymous Author
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Prerequisites
Course Complexity: Intermediate

No Advanced Preparation or Prerequisites are needed for this course. 

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Questions and Answers(2 Questions)
Member's Profile

I know I am repeating myself, but the instructor is extremely thorough. All of the pieces are coming together for me at least. She is challenging my competency level! Bottom line, this course is essential for anyone involved in financial reporting compliance.

Member's Profile

Glad you find this helpful

Instructor for this course
Course Syllabus
INTRODUCTION and OVERVIEW
  Introduction to SOX 3023:15
SOX 302
  Background and 302 Requirements 10:57
  Certification Wording 10:33
  Other Disclosure Requirements 8:34
  Types of Disclosure Controls 7:22
  Management Requirements 10:01
  Improvements 14:21
CONCLUSION
  404 Vs. 3028:40
Continuous Play
  SOX 3021:13:44
SUPPORTING MATERIALS
  Slides: SOX Section 302PDF
  SOX Section 302 Glossary/IndexPDF
REVIEW and TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam