Which statement accurately describes the scope of compliance in identity access?

The statement that compliance is relevant to every organization handling personal data accurately reflects the broad and critical importance of compliance in the context of identity access. In today's digital landscape, regulatory frameworks such as GDPR, CCPA, and HIPAA impose strict requirements on how organizations collect, use, and protect personal data. These regulations are applicable to a wide range of industries beyond just financial institutions, ensuring that all organizations—whether they are tech companies, healthcare providers, or retail businesses—are held accountable for the management of sensitive information.

This widespread applicability of compliance means that organizations must implement robust identity access management practices to secure personal data and adhere to legal obligations. Ensuring compliance helps mitigate risks associated with data breaches, enhances customer trust, and avoids potential legal penalties.

In contrast, the other statements inaccurately narrow the scope of compliance or misrepresent its importance across various sectors. Compliance is not limited to financial institutions, it is certainly not optional for technology companies, and it encompasses much more than just physical security, extending into the realm of data security and privacy which is crucial for maintaining overall compliance.