Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 360

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 4
Chunk 360
---
 Act of 2002, we have undertaken and continue a comprehensive effort, which includes the documentation and review of our
internal controls. In order to comply with the Sarbanes-Oxley Act, we centralized most accounting and many administrative functions in
an effort to control the cost of maintaining our control systems.

The Dodd-Frank Wall Street
Reform and Consumer Protection Act permanently exempts smaller reporting companies with less than $75 million in public float, such as
the Company, from the requirement to obtain an external audit on the effectiveness of internal financial reporting controls provided in
Section 404(b) of the Sarbanes-Oxley Act. As a result, an attestation report on internal controls over financial reporting by an independent
registered public accounting firm has not been presented. Section 404(a) is still effective for smaller reporting companies and requires
the disclosure of management attestations on internal controls over financial reporting as set forth below.

Management’s Annual
Report on Internal Control Over Financial Reporting

Our management is responsible
for establishing and maintaining adequate internal control over financial reporting. Our internal control over financial reporting is
designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting principles.

 18 

Management conducted an evaluation
of the effectiveness of the internal controls over financial reporting based on the Committee of Sponsoring Organizations of the Treadway
Commission (COSO) Internal Control-Integrated Framework (2013) and related illustrative documents as an update to Internal Control-Integrated
Framework (1992). Management determined that the 17 principles were present and functioning during its assessment of the effectiveness
of our internal controls. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.
Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation
and presentation. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Management assessed the effectiveness
of our internal control over financial reporting for our fiscal year ended November 1, 2024. Based on management’s assessment and
the above-referenced criteria, management believes that the internal control over financial reporting was effective as of November 1,
2024.

Changes in Internal
Control over Financial Reporting

No change in our internal
control over