The compliance audit involves testing and reporting whether an organization has complied with the requirements of...

The compliance audit involves testing and reporting whether an organization has complied with the requirements of various laws, regulations and agreements. Explain and give an example of why compliance with laws and regulations is so important in the audit of government organizations

Expert Solution

Compliance audit is evaluation to ensure that whether organisation is complying with applicable laws,regulation and agreements.

Organisation has to comply with standards like ISO 9000.Non compliance with regulations,laws ,policies,Standards , guidelines may result in penalty,legal action, federal fines,cancellation of registration of organisations.Board of directors and other authorised persons are responsible to look for compliance with laws,regulation and agreements.Organisations have to make regulatory compliance to avoid the litigations.

Example Compliance with

Sarbanes -Oxley Act (SOX)
the Federal Information Security Management Act(FISMA)
Health Insurance Portability and Accountability Act(HIPAA)

Common HIPPA violations are insufficient number of healthcare provider , Expose patient information to third person without consent of patient.Penalities are imposed against organisation and individuals such as staff.

ekkarill92 answered 2 years ago

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