1 Identifying Compliance Requirements Free Online FlashCards

What determines whether a law may apply to an organization?

Laws are enacted by legislatures and may apply based on factors such as location, industry, organizational status, activities, or affected people.

What is a regulation, and what details should be verified?

Regulations are rules issued by government agencies under legal authority. Verify the regulator, exact provisions, effective dates, amendments, and applicability conditions.

When can a standard become obligatory?

A standard may become obligatory when incorporated by a law or regulation, required by a contract, or adopted as organizational policy.

How do contracts create compliance obligations?

Contracts create obligations for their parties. Review signed agreements and amendments, including applicable flow-down clauses.

What can internal policies and procedures establish?

Internal policies and procedures establish organizational rules and controls. They may implement external requirements or create additional internal commitments.

What should a compliance review's scope define?

Define the entities, jurisdictions, activities, products or services, people, customers and suppliers, information and systems, and review period being assessed.

Why write a clear boundary statement for a review?

A clear boundary reveals what is included, excluded, or uncertain, and helps identify whether an affiliate, vendor, location, or activity falls within a requirement’s reach.

What information helps map organizational activities and relationships?

Gather information from legal-entity records, operational teams, product and service descriptions, location lists, data flows, licenses, permits, and executed contracts.

How should an organization test a candidate requirement's applicability?

Test whether the requirement covers the relevant entity, activity, location, person, data, or transaction; check thresholds, exceptions, conditions, and effective dates.

What details turn requirement text into an actionable obligation?

Capture the required action or prohibition, responsible party, deadline or frequency, triggering event, required records or notifications, and exceptions.

What makes a source preferable when verifying a requirement?

Prefer sources closest to the authority that created the requirement, such as enacted legal texts, official government publications, executed contracts, controlled standards editions, and approved internal policy repositories.

What is an important limitation of the eCFR?

The eCFR is updated frequently but is an unofficial editorial compilation. For important legal research, verify provisions against the official CFR and Federal Register.