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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.

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 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 302.  This course is designed to provide a deeper understanding of the requirements behind SOX 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 302

 

Last updated/reviewed: May 15, 2022

Included In Certifications

This course is included in the following Certification Programs:

16 CoursesSarbanes-Oxley (SOX) Certification

  1. Sarbanes Oxley (SOX) 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 Material 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 (SOX) 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. Conducting An Audit In Accordance With GAAS - Part 1
  13. Conducting An Audit In Accordance With GAAS - Part 2
  14. Conducting An Audit In Accordance with GAAS - Part 3
  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

71 Reviews (242 ratings)Reviews

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
Member's Profile
I believe one of the answers to the questions are incorrect. This question: "Which of the following is NOT one of the elements that is included in the 302 certification?" On slide 12, it states "CEO/CFO are responsible for the internal accounting controls." -- so I don't feel that's the correct answer. B appears to be the best answer.
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
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.
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.
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
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.
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.
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
Member's Profile
great detail of the review by the instructor. Good explanation between the 302 vs 404 sections.
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.
5
Member's Profile
Gave a good outline of an area that I've seen often but was not involved with significantly
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.
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.
4
Anonymous Author
Course is well developed, structured and presented. Good review information.
5
Anonymous Author
This a good course. Could have been shortened slightly. But well delivered.
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
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
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
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.
3
Anonymous Author
good for me and served my needs as a continuing cpa and cia
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.
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
Good coverage of 302 coupled with a comparison to 404.
4
Member's Profile
great summary of the differences between 302 and 404.
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 .

2 QuestionsCourse Questions and Answers

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

Course Syllabus
INTRODUCTION and OVERVIEW
  3:15Introduction to SOX 302
SOX 302
  10:57Background and 302 Requirements
  10:33Certification Wording
  8:34Other Disclosure Requirements
  7:22Types of Disclosure Controls
  10:01Management Requirements
  14:21Improvements
CONCLUSION
  8:40404 Vs. 302
Continuous Play
  1:13:44SOX 302
SUPPORTING MATERIALS
  PDFSlides: SOX Section 302
  PDFSOX Section 302 Glossary/Index
REVIEW and TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM