Assignment Title: Statutes, Regulations, and Contract ComplianceOutcomes addressed in this activity:Unit Outcomes:Describe the differences between statutes, regulations, and contractual obligations.Analyze compliance requirements for statutes, regulations, and contracts.Analyze penalties for statutes, regulations, and contracts.Course Outcome practiced in this unit:IT591-4: Analyze technical scenario elements for industry standards, compliance regulations, and laws to determine strategy.PurposeIt is important to understand how compliance and penalties differ across statutes, regulations, and contractual obligations, as this will affect decisions that need to be made in security controls that an organization will need to implement and will also have an impact on performing an accurate risk assessment. In this assignment, you will provide a specific example of a statute, a regulation, and a contractual agreement for an industry of their choice. You will discuss the differences in the origin of each, the compliance requirements of each, and the penalties for each within that specific industry.Assignment Select an industry of your choice (retail, education, military, healthcare, financial, government) and briefly describe that industry in today’s world and discuss any changes occurring within the industry that are relevant for security.For that industry, identify one specific relevant statute, one relevant regulation, and one relevant contractual obligation that might exist.Create a header for Statute, Regulation, and Contractual Obligation. For each, describe the origin of the statute, regulation, or need for contract. Discuss the compliance requirements for the statute, the regulation, and the contract. Discuss the penalties that exist for the lack of compliance under each.Describe the statute, regulation, and contractual obligation in terms of how it might affect a security risk assessment for the organization.Assignment Requirements4-5 pages of content (exclusive of cover sheet and references page), using Times New Roman font style, 12pt, double-spaced, using correct APA formatting, and include a cover sheet, table of contents, abstract, and reference page(s)At least 1 credible source cited and referencedNo spelling errorsNo grammar errorsNo APA errorsFor more information and examples of APA formatting, refer to the resources in the Academic Tools area in this course.Also review the Policy on Plagiarism. If you have any questions, please contact your professor.Directions for Submitting Your AssignmentName your Assignment document according to this convention: YourLastName_IT591_Unit5. Submit your completed Assignment to the Unit 5 Dropbox by the deadline.Review the rubric before beginning this activity.
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