Question

A technician prepares a presentation to the board of directors on the variances between compliance reporting and monitoring after the board receives word that the company did poorly on its last assessment. What are the tenets of compliance reporting? (Select the two best options.)

A.It aims to assess and disclose an organization's compliance status.
B.It promotes accountability, transparency, and effective compliance management.
C.It conducts thorough investigations and assessments of third parties.
D.It uses automation to improve accuracy and streamline observation activities.

Answer 1

Compliance reporting A. aims to assess and disclose an organization's compliance status, while promoting accountability, transparency, and effective compliance management.

Step-by-step explanation:

Compliance reporting is an essential aspect of maintaining regulatory compliance within an organization. The tenets of compliance reporting include:

1. Aims to assess and disclose an organization's compliance status: Compliance reporting involves evaluating whether the organization is meeting the required regulatory standards and disclosing this information to relevant stakeholders.
2. Promotes accountability, transparency, and effective compliance management: Compliance reporting ensures that the organization takes responsibility for its actions, provides transparency in its compliance efforts, and establishes effective systems for managing compliance.

These tenets ensure that the organization is aware of its compliance status, takes necessary actions to address any non-compliance issues, and maintains a culture of integrity and responsibility.