Which statement is true regarding compliance requirements?

The statement that compliance requirements vary significantly by industry is accurate because different industries are governed by different regulations and standards. For example, the financial services, healthcare, and pharmaceutical industries have stringent compliance mandates due to the nature of their operations and the sensitivity of the data they handle. Financial institutions must adhere to regulations like the Sarbanes-Oxley Act and Anti-Money Laundering laws, while healthcare organizations must comply with HIPAA, which mandates stringent data protection provisions.

Conversely, other industries may have more lenient oversight or different sets of regulations based on operational risk or consumer protection requirements. This diversity reflects how compliance is tailored to the specific risks and regulatory frameworks associated with each industry, emphasizing the importance of understanding industry-specific compliance obligations. This variability showcases why organizations must assess their compliance landscape based on their particular industry setting.