Sections 302 and 906 of SOX lay a foundation for restoring investor confidence in the integrity of public reporting. Building on that foundation, Section 404 requires management to file an internal control report with the annual report on Form 10-K. This course focuses on the SEC’s rules for Section 404.
Program Registration:
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Learning Objectives:
Upon completion of this course, the learner will be able to:
- Describe Section 404 requirements
- Determine by when their company must comply
- Define internal control over financial reporting
- Identify who should be involved in complying with Section 404
- Describe what has to be done to comply
Estimated Course Duration: 1 hour (1 CPE)
Delivery Method: Online Self-Study
Field of Study: Accounting
Program Level: Overview
Advance Preparation/Prerequisites: None
Program Content:
Requirements of Section 404
- Initial steps for management
- New documentation and reporting requirements
Effective Dates of Section 404
Internal Control over Financial Reporting
- Definition
- Comparison to COSO Internal Control – Integrated Framework and SEC definitions
Participating Companies
- “Accelerated filers”
- Non-public subsidiaries
- Foreign Private Issuers
- Non-accelerated filers
Key Individuals Involved in Section 404 Compliance
- Selecting a project sponsor
- Identify project team members and team leader
- The Section 404 compliance steering committee
- The disclosure committee
- Enlisting an independent external party
The Project Plan
- Specific steps in the plan
- Ongoing assessment
- Coordination with the external auditor
Download PDF Course Description:
(1 page, 64 KB)
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5. The training module will launch automatically. NOTE: Most training modules are narrated. To view speaker notes during the presentation, click the Notes tab.
In order to earn CPE credit, you must complete the training module within one year of enrollment and score 70% or above on the Final Exam.
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