Video: Introduction to Regulations, Standards and Frameworks

In this lesson, Nick Palazzolo, CPA, dives into the intricate world of regulations, standards, and frameworks that span across various industries. He starts by outlining the numerous sources of these guidelines, ranging from governmental bodies to consortiums like the COSO Internal Framework. Nick makes a point to demystify the plethora of acronyms encountered in this field, such as HIPAA, GDPR, PCI DSS, and NIST CSF, explaining their relevance and application in specific industries, particularly highlighting their impact in healthcare and data security. Throughout the session, Nick focuses on understanding their scope, key principles, and the fundamental requirements they establish for organizations, ensuring a comprehensive grasp of these critical regulatory landscapes.

"Examprep.ai helped me pass all 4 CPA exams on the first try. I highly recommend. I especially like the feedback and ratings the software provides so I know where to focus my time."

Daniel H., CPA

"I can't recommend ExamPrep.ai enough. Nick's lessons turned concepts I struggled with into strengths. I was able to pass FAR right before other exams expired!"

Andrew K, CPA

"I just want to say thank you for the great lesson videos. I couldn't stay awake through lectures of another course. After watching all your FAR lessons I was finally able to pass!"

Alyssa M., CPA Candidate

Video Transcript

Instructor: Nick Palazzolo

Nick Palazzolo is head instructor of ExamPrep.ai CPA Review. Nick's teaching style is engaging & upbeat, combining practical Big 4 tax & assurance expertise with years of 1-on-1 coaching. His lessons are concise and emphasize what you need to know to pass. Whether you're a recent grad or working full-time, we’re confident you can conquer your CPA exams with Nick’s review.

Cite this lesson

Link to this page

[[ citeExample ]]

Copy to clipboard

Copy URL to clipboard

Copy HTML to clipboard

Time to run through our learning objectives here for regulations, standards, and frameworks. Just keep in mind, these are, there are a lot of acronyms for sure. They all come from different places. Sometimes it's a government creating some regulations. Sometimes, like we've seen with the COSO Internal Framework, it's a group of private companies that come together. So all of these are just boards of various industries could be doing this. All of these various regulations, standards, and frameworks all come from different places, and we'll go through them, what they cover, what industries they're relevant for, et cetera, et cetera. But first off, we're going to want to recall the covered entities. So what entities are under the HIPAA security and privacy rules? This is definitely a much more common one, deals with healthcare. A lot of you may have experienced this in the workplace. I mean, healthcare is, guess what? It's a big industry. Everyone needs good healthcare. We want to recall the scope of the GDPR, and there's a lot of acronyms right here, and we'll obviously dive into them, so no worries. We want to see the six principles and key concepts for personal data. Then we also want to recall the requirements for the PCI DSS. You're going to be seeing the same slide at the very end as a summary, and you'll be like, wow, I know all of these terms now, but these are just a bunch of acronyms, and that's what we're going to be going through throughout this lesson. We want to recall the three parts of the NIST CSF, the framework core, framework implementation tiers, and framework profiles. We also want to recall the three parts of the NIST privacy framework. So for profiles and implementation tiers, again, we

Unlock the full video transcript and subtitles support with a free account!

Get more from this lesson

Create an account 7-day free trial. No credit card required.

Regulations, Standards and Frameworks

Module: 3 Concepts, 41 Videos

Internal Control Frameworks Overview and Objectives

3:45

Introduction to Internal Control Frameworks

5:36

Corporate Structure

2:01

Components of the COSO Internal Control Integrated Framework