SEC+ Mod 7 Part 2

What are the two main categories of compliance reporting?

• Internal reporting and external reporting

• Monthly compliance dashboards and security incident reports

• Regulatory compliance reports and third-party audits

• Risk assessment reports and vendor security questionnaires

Answer explanation

The two main categories of compliance reporting are internal reporting and external reporting.

Which of the following is NOT included in internal reporting?

• Monthly compliance dashboards

• Security incident reports

• Regulatory compliance reports

• Security audit findings

Answer explanation

The correct choice is Regulatory compliance reports as they are not typically included in internal reporting, unlike the other options which are commonly included.

What is the purpose of security incident reports in internal reporting?

• To display key performance indicators (KPIs) related to security compliance

• To detail the occurrence, impact, and response to security incidents

• To summarize the results of internal security audits and assessments

• To provide insights into potential security risks and their potential impact

Answer explanation

To detail the occurrence, impact, and response to security incidents

Which type of external reporting involves submitting reports to regulatory bodies to confirm adherence to specific security and data protection requirements?

• Third-party audits

• Vendor security questionnaires

• Customer compliance reports

• Regulatory compliance reports

Answer explanation

Regulatory compliance reports involve submitting reports to regulatory bodies to confirm adherence to specific security and data protection requirements.

What is the role of third-party audits in external reporting?

• To assess an organization's security practices and provide independent verification of compliance

• To request that vendors and partners complete security questionnaires

• To provide customers with compliance reports

• To submit reports to regulatory bodies

Answer explanation

To assess an organization's security practices and provide independent verification of compliance

What does SSAE stand for?

• Statement on Standards for Attestation Engagements

• System and Organization Controls

• Security Standards for Auditing Engagements

• Standards for Security and Attestation Engagements

Answer explanation

SSAE stands for Statement on Standards for Attestation Engagements, making it the correct choice.

Which organization developed the SSAE standards?

• American Institute of Certified Public Accountants (AICPA)

• International Organization for Standardization (ISO)

• Institute of Internal Auditors (IIA)

• National Institute of Standards and Technology (NIST)

Answer explanation

The American Institute of Certified Public Accountants (AICPA) developed the SSAE standards.

What is the focus of SSAE standards?

• Assurance and validation of control systems, security, availability, processing integrity, confidentiality, and privacy

• Development of software applications

• Management of financial records

• Training of IT professionals

Answer explanation

The focus of SSAE standards is assurance and validation of control systems, security, availability, processing integrity, confidentiality, and privacy.

What is the most recent version of SSAE?

• SSAE 18

• SSAE 16

• SSAE 20

• SSAE 15

Answer explanation

The most recent version of SSAE is SSAE 18, making it the correct choice among the options provided.

What does an SSAE 18 Type 1 report provide?

• An opinion on the fairness of management's description of the service organization's system and the suitability of the design of controls

• An opinion on the operating impact of controls over a specified period

• A detailed financial audit of the organization

• A review of the organization's software development processes

Answer explanation

An SSAE 18 Type 1 report provides an opinion on the fairness of management's description of the service organization's system and the suitability of the design of controls.