An organization is preparing a compliance report that will be submitted to both internal stakeholders and an independent regulatory body. Which of the following would be the BEST approach to ensure that the report satisfies the requirements of both parties?
Limit the report to internal risk assessment findings without addressing regulatory compliance standards.
Summarize only the internal auditing procedures followed during the reporting period.
Include evidence of alignment with regulatory compliance standards and internal policies and procedures.
Focus solely on external compliance mandates without detailing the internal governance mechanisms.
When preparing a report that will be submitted to both internal stakeholders and an independent regulatory body, it is crucial to include evidence of alignment with regulatory compliance standards, as well as internal policies and procedures. This ensures that the report demonstrates adherence to external legal and compliance mandates, while also confirming that internal governance is in line with organizational objectives and practices. Incorrect answers may be plausible, but they do not fully satisfy the dual requirement of adherence to internal policies and external regulations.
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