What is a primary benefit of conducting a contemporaneous review?

Conducting a contemporaneous review is a proactive approach that focuses on identifying and addressing issues as they arise, thereby preventing them from escalating into more significant problems later on. This timely identification allows organizations to implement corrective actions immediately, which is crucial in maintaining compliance and avoiding penalties or reputational damage. By catching issues early, organizations can ensure that any lapses or errors are rectified quickly, reducing the risk of larger systemic flaws developing over time. This approach emphasizes the importance of regular oversight and assessment in compliance monitoring, fostering a culture of continuous improvement and accountability.

While other options reflect important aspects of compliance and organizational integrity, they do not specifically capture the essence of a contemporaneous review like the ability to act swiftly in response to emerging issues does.