What is an 'exception report' in PCI compliance?

An 'exception report' in the context of PCI compliance is vital for maintaining security and compliance with established policies. This type of report focuses specifically on identifying and highlighting deviations from the organization's set security policies or procedures. By identifying exceptions, organizations can take corrective action in a timely manner to mitigate any potential risks that may arise from non-compliance or deviations from established protocols.

Such reports are crucial for maintaining a secure environment, as they provide insight into areas where security controls may not be functioning effectively or where employees may not be following procedures as required. This not only aids in improving overall compliance but also assists in reinforcing best practices throughout the organization.

The other options, while related to different aspects of organizational operations, do not capture the specific purpose of an exception report in the realm of PCI compliance. Summarizing daily transactions, conducting routine audits, or assessing budget discrepancies addresses distinct operational functions and monitoring activities that do not focus on security policy enforcement or compliance deviations. Consequently, they do not align with the definition and purpose of an exception report.