GOVBUS Endterm Quiz #2

True or False: Compliance refers to the adherence to laws, regulations, and internal policies within an organization.

• True
• FALSE

True or False: Compliance is only important for large corporations and does not apply to small businesses.

• True
• FALSE

True or False: Non-compliance with regulations and laws can result in financial penalties and damage to a company's reputation.

• True
• FALSE

True or False: The key elements of compliance and regulatory risk management include risk assessment, control framework, and automation technology.

• True
• FALSE

True or False: Compliance and regulatory risk mitigation strategies are focused solely on avoiding risks and do not contribute to the overall success of a business.

• True
• FALSE

True or False: Compliance and regulatory risk management challenges include rapid changes in regulations, lack of clarity in interpretation, and resource constraints.

• True
• FALSE

True or False: Best practices for effective compliance and regulatory risk management include leadership commitment, comprehensive compliance programs, and continuous improvement.

• True
• FALSE

True or False: Future trends in compliance and regulatory risk management include increased focus on data privacy and security, advancements in technology and automation, and global regulatory coordination.

• True
• FALSE

True or False: Sustainable and ESG compliance refers to the integration of environmental, social, and governance considerations into business strategies and operations.

• True
• FALSE

True or False: Predictive analytics and real-time monitoring are emerging trends that can help organizations proactively identify compliance risks and anticipate regulatory changes.

• True
• FALSE