What is the intent of regulatory compliance, and what is the role of IT in maintaining corporate compliance?

SEC-592-12068: IT Governance – Week 5 Assignment 
In a 3 to 4 page paper, discuss, analyze and examine the following issues.
What is the intent of regulatory compliance, and what is the role of IT in maintaining corporate compliance?
What can happen to organizations and their senior management if they ignore compliance mandates?
The grading rubric is posted in Doc Sharing.
The paper has to be in the APA style and I need at least 3 references.
The report will run through Turnitin.