Which of the following would be a risk practitioner's BEST recommendation upon learning of an updated cybersecurity regulation that could impact the organization?

A gap analysis directly compares the organization's existing security posture, controls, and processes against the new regulatory requirements to precisely identify where changes are needed. This provides a clear roadmap for compliance efforts and resource allocation, making it the most efficient and effective first step.

Conducting system testing is a validation activity, typically done after controls or systems have been modified or implemented to meet requirements, not as the initial response to understanding new regulations.

Implementing compensating controls is a solution for when primary controls are not feasible or effective, and it should only be considered after identifying the specific gaps that need addressing, which a gap analysis would reveal.

Updating security policies is a necessary step, but it should be informed by the findings of a gap analysis to ensure the policies accurately reflect what needs to change to achieve compliance with the new regulation.