The testing that management performs to support the Section 404 compliance process may come from a variety of testing techniques, periodically performed by various individuals in multiple locations to provide evidence as of a point in time. If tests fail, remediation and retesting may be performed.
This tool outlines best practices and questions to consider when documenting the summary and results of ICFR testing. Sample questions include: Does the organization create and distribute reports that effectively summarize the results of testing, refresh testing and retesting? Are reports prepared timely so that corrective action can be taken timely?