Mapping the audit processes 1124

  • Does anyone know of anything that explains, in simplistic terms, the actual difference between 404 and 302? Anything that shows a graphical representation of activities that should be performed by a company’s Internal Audit group for 302 and 404?
    It seems that everyone has a different take on who does what, and when. I would like to develop a some type of visual aid - a sort of ‘road map’ or flow chart of the audit processes for 404 and 302 that clearly shows how, where, and when they overlap.
    Thank you in advance for any information you might be able to provide. I would be happy to share the results of what I come up with.

  • Hi,
    please write back with your email and I will send you back a relevant document.

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    404: Companies identify the control framework used by management to evaluate effectiveness of internal controls, and Senior Leadership Team to attest to effectiveness in year-end financial report(s).
    302: Senior Leadership Team attests to accuracy of company’s quarterly and annual reports, certify these reports reflect the company’s financial position, note weaknesses in controls exposed by audit, and describe how controls are integrated into the company’s operations.

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