An audit is assessing a small business that is selling automotive parts and diagnostic services.
Due to increased customer demands, the company recently started to accept credit card payments and acquired a POS terminal.
Which compliance regulations must the audit apply to the company?
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A. B. C. D.D.
https://upserve.com/restaurant-insider/restaurant-pos-pci-compliance-checklist/Out of the given options, the compliance regulation that the audit must apply to the company in question is PCI DSS (Payment Card Industry Data Security Standard).
PCI DSS is a set of security standards that were created to ensure that all companies that accept, store, process or transmit credit card information maintain a secure environment. PCI DSS applies to all entities that accept payment cards, including merchants, financial institutions, and service providers. The standard was created by the Payment Card Industry Security Standards Council, which is a global forum that was established by the major payment card brands such as Visa, Mastercard, American Express, Discover, and JCB.
In this scenario, since the small business is accepting credit card payments, they are considered a merchant, and they must comply with PCI DSS regulations. The PCI DSS standards include requirements for network security, data protection, access control, and monitoring, among others. Compliance with these standards helps to ensure the security of cardholder data, which is essential for maintaining customer trust and avoiding fraud and data breaches.
HIPAA (Health Insurance Portability and Accountability Act) is a regulation that applies to healthcare organizations and deals with the privacy and security of personal health information. COBIT (Control Objectives for Information and Related Technology) is a framework for IT governance and management, while FISMA (Federal Information Security Management Act) is a regulation that applies to federal agencies and deals with the security of federal information and systems. Since the small business in question is not in the healthcare sector, a federal agency, or an IT service provider, HIPAA, COBIT, and FISMA regulations do not apply to them.