Compliance and Auditing Regulatory Frameworks

Question 1

Which US federal law requires public companies to establish internal controls over financial reporting?

Accepted Answer

Sarbanes-Oxley Act (SOX)

Answer

The Sarbanes-Oxley Act of 2002 mandates that public companies implement and attest to internal controls over financial reporting under Section 404.

Question 2

Which regulation governs the protection of personal health information in the United States?

Accepted Answer

HIPAA

Answer

HIPAA (Health Insurance Portability and Accountability Act) sets standards for protecting sensitive patient health information from being disclosed without consent.

Question 3

The Payment Card Industry Data Security Standard (PCI DSS) is maintained by which organization?

Accepted Answer

PCI Security Standards Council

Answer

The PCI Security Standards Council, founded by major card brands, develops and maintains PCI DSS to protect cardholder data.

Question 4

Which US law requires financial institutions to protect consumers' personal financial information?

Accepted Answer

Gramm-Leach-Bliley Act (GLBA)

Answer

The Gramm-Leach-Bliley Act requires financial institutions to explain their information-sharing practices and safeguard sensitive consumer data.

Question 5

NIST SP 800-53 provides security and privacy controls for which type of organizations?

Accepted Answer

Federal information systems and organizations

Answer

NIST SP 800-53 provides a catalog of security and privacy controls specifically for federal information systems and organizations as required by FISMA.

Compliance and Auditing Practice Test

Compliance and Auditing Practice Test

Compliance and Auditing Regulatory Frameworks