What is included in an organization's regulatory framework?

An organization's regulatory framework encompasses a comprehensive documentation system that includes policies, standards, procedures, practices, and guidelines. This documentation serves several critical functions. First, it provides a structured approach to compliance, ensuring that the organization adheres to relevant laws and regulations. Second, it establishes a clear set of expectations for behavior and practices within the organization, guiding employee actions and decision-making processes.

Including documentation of various elements such as policies and standards ensures that all aspects of regulatory requirements are addressed. Procedures detail the specific steps for implementing those policies, while practices provide insights into the day-to-day operations that align with organizational goals. Guidelines often offer best practice recommendations and flexibility for employees as they navigate their work in a compliant manner.

The other options, while potentially related to organizational governance, do not capture the full scope of what constitutes a regulatory framework. Simply having policies and guidelines is insufficient, as it lacks the detailed components necessary for thorough compliance. Technical specifications and software licenses focus more on the technical side and do not encompass broader regulatory requirements. Similarly, training programs and employee handbooks, though important for operational effectiveness, are only part of the larger framework rather than encompassing it entirely. Thus, the comprehensive nature of the second option makes it the most accurate choice.