Compliance and Auditing Regulatory Frameworks 2

Question 1

Under SOX Section 302, who is primarily responsible for certifying the accuracy of financial reports?

Accepted Answer

CEO and CFO

Answer

SOX Section 302 requires the CEO and CFO to personally certify the accuracy and completeness of financial reports filed with the SEC.

Question 2

Which HIPAA rule specifically governs the security of electronic protected health information (ePHI)?

Accepted Answer

Security Rule

Answer

The HIPAA Security Rule establishes national standards to protect electronic protected health information that is created, received, used, or maintained by a covered entity.

Question 3

What is the primary goal of the Federal Information Security Management Act (FISMA)?

Accepted Answer

Protect federal information and systems

Answer

FISMA requires federal agencies to develop, document, and implement agency-wide information security programs to protect federal information and systems.

Question 4

The Children's Online Privacy Protection Act (COPPA) applies to websites that collect data from children under what age?

Accepted Answer

13

Answer

COPPA applies to operators of commercial websites and online services directed to children under 13 and requires verifiable parental consent before collecting their personal information.

Question 5

Which regulatory body enforces compliance with SOX for publicly traded US companies?

Accepted Answer

SEC

Answer

The Securities and Exchange Commission (SEC) is the primary regulatory body responsible for enforcing Sarbanes-Oxley Act compliance for public companies.

Compliance and Auditing Practice Test

Compliance and Auditing Practice Test

Compliance and Auditing Regulatory Frameworks 2