Which of the following is the BEST way to distinguish between a privacy risk and compliance risk?

A privacy risk assessment is a process of identifying, analyzing and evaluating the privacy risks

associated with the collection, use, disclosure or retention of personal data. A privacy risk

assessment is the best way to distinguish between a privacy risk and compliance risk, as it would

help to determine the likelihood and impact of privacy incidents or breaches that could affect the

rights and interests of the data subjects, as well as the legal obligations and responsibilities of the

organization. A privacy risk assessment would also help to identify and implement appropriate

controls and measures to mitigate or reduce the privacy risks and ensure compliance with privacy

principles, laws and regulations. The other options are not as effective as conducting a privacy risk

assessment in distinguishing between a privacy risk and compliance risk. Performing a privacy risk

audit is a process of verifying and validating the effectiveness and adequacy of the privacy controls

and measures implemented by the organization, but it does not necessarily identify or evaluate the

privacy risks or compliance risks. Validating a privacy risk attestation is a process of confirming and

certifying the accuracy and completeness of the privacy information or statements provided by the

organization, but it does not necessarily identify or evaluate the privacy risks or compliance

risks. Conducting a privacy risk remediation exercise is a process of implementing corrective actions

or improvements to address the identified or reported privacy risks or compliance risks, but it does

not necessarily distinguish between them1, p. 66-67 Reference: 1: CDPSE Review Manual (Digital

Version)