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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.
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: November 24, 2019
Included In Certifications
This course is included in the following Certification Programs:
17 CoursesSarbanes-Oxley (SOX) Certification
- Sarbanes Oxley (SOX) Overview
- SOX: Authoritative Bodies
- Sarbanes-Oxley (SOX) Standards - Evolution
- Information Technology General Controls Primer
- COSO 2013 Overview
- Sarbanes-Oxley (SOX) Section 404
- Sarbanes-Oxley Section 302: ICFR
- Sarbanes-Oxley (SOX) And Fraud Sections
- Sarbanes-Oxley (SOX) - Top Down Risk Assessment Part 1
- Sarbanes-Oxley (SOX) - Top Down Risk Assessment Part 2
- Sarbanes-Oxley (SOX) - Entity Level Controls
- Sarbanes-Oxley (SOX) Identifying and Documenting Controls
- Sarbanes-Oxley (SOX) Testing
- Sarbanes-Oxley (SOX) - Information Technology Controls
- Sarbanes-Oxley (SOX) - Assessing Material Impact
- XBRL - Connection to SOX 302/404 and Critical Roles
- Tools For Sarbanes-Oxley Compliance
18 CoursesFinancial Statement Preparation, Reporting and Auditing Certification
- Financial Statement Introduction
- GAAP Principles, Assumptions and Considerations
- GAAP Presentation of Financial Statements
- Management Discussion and Analysis (MD&A) Update
- Sarbanes Oxley (SOX) Overview
- Sarbanes-Oxley Section 302: ICFR
- XBRL (Extensible Business Reporting Language) Introduction to Basics - Updated
- XBRL - Connection to SOX 302/404 and Critical Roles
- Analyzing Financial Ratios - Solvency, Liquidity and Debt
- Analyzing Financial Ratios - Leverage
- Analyzing Financial Ratios - Performance And Efficiency
- Conducting An Audit In Accordance With GAAS - Part 1
- Conducting An Audit In Accordance With GAAS - Part 2
- Conducting An Audit In Accordance with GAAS - Part 3
- Introduction to Accounting for Income Taxes Based on Income
- Practical Application For Accounting For Income Taxes Based On Income Part 1
- Practical Application For Accounting For Income Taxes Based On Income Part 2
- FASB Codification Research System
41 Reviews (158 ratings)Reviews
Anonymous
(Internal Control Expert)
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.
Anonymous
(Lead IT Auditor)
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.
Lilian Dendrinos
(consultant at DLC Group)
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.
Anonymous
(DIRECTOR)
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.
Joy Franklin
(Auditor at Assurant)
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.
Anonymous
(Manager SOX & Accounting)
Picked up a lot of good information that explained the importance of the Disclosure and Audit Committee and their function.
Anonymous
(Internal controls manager)
I think that this course gave good food for thoughs when emphasizing the need to regularly revisit the 302 process!
Kevin Murray
(Manager of Finance at NYSTRS)
A g.ood course on Section 302. I have been around 404 for years and learned a lot of new things with this course.
Anonymous
(SOX process manager)
Excellent and clear overview of the S302 requirements and their relation to S404. Highly recommended!
Anonymous
(Program Management)
I don't have an idea about the difference between SOX 302 and SOX 404 until I watched this training.
Anonymous
(CPA)
This course was excellent and provided very important information that I will utilize in the future.
Anonymous
()
It explains the difference between 404 and 302 and how to improve the 302 certification process.
Anonymous
(Unemployed)
Very organized. Great examples. All staff at management level or above should take this course.
Anonymous
(-)
Excellent discussion of 302 history, expectations, and challenges. Well-presented and concise.
Anonymous
(Development Controller)
Provided more detail than I was aware of on 302. Gave me some work to do. Good overall.
Craig Scanlon
(Owner at BST)
Instructor does a nice job of giving enough detail and background supported by examples
Anonymous
(Consultant)
Great overview of SOX 302 and good comparisons of the differences between 404 and 302.
Jennifer Pawliw
(Associate Auditor at Berkshire Bank)
Good course. Wish more time was spent on the differences between 404 and 302.
Victor Fuentes
(Manager at RSM)
Good course to refresh on the requirements of the SOX certification.
Ginger Witte
(Director Internal Audit at Protective Insurance)
This course provides a good overview of Sarbanes Oxley Section 302.
Anonymous
(Executive)
Excellent overview of the content and high level review of 404.
Anonymous
(Staff Operations Auditor)
This course is filled with a lot of information on Section 302.
Gabriel Sotero
(Associate at PwC)
The course was nice and concise being clear in its objective.
Anonymous
(Sole Practitioner)
good for me and served my needs as a continuing cpa and cia
ERIC ABAIDOO
( at Tullow Oil)
It was an eye opener to what disclosure means and entails
Radhesh Pradhan
(Accounting Manager at DGN Technologies Inc)
Good course. Goes in to appropriate details to explain.
Donald Dye
(Partner at Skylake)
efficient and effective presentation of a tough subject.
George Welch
(Staff Accountant at Correct Care Solutions)
Good course and the pace of information given was great.
Sarah Nikas
(Finance Controls and Compliance Lead at Cargill)
Good description of the differences between 404 and 302.
Anonymous
(None)
Good coverage of 302 coupled with a comparison to 404.
Paulo Sitoe
(Internal Auditor at Nokia)
great summary of the differences between 302 and 404.
Anonymous
(Senior Director - Revenue Management)
Effective review of 302 and introduction to ICFR.
Anonymous
(Consultant)
Great explanation of elements of SOX 302
Anonymous
(Consultant)
Good over view and insight.
James Gately
(CPA at Self-employed)
Great Presentation
Anonymous
(SOX Senior Auditor)
Very informative.
Anonymous
(-)
Good overview.
Jeff Wilhelm
(Director - Transaction Services at Yahoo!)
Great content.
Anonymous
(Fiscal Officer)
valued course
Vahé Hovakimian
(Financial Analyst at Great Place to Work Institute)
great!
Anonymous
(-)
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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 .