What type of audit helps outline current operational standards in an internal assessment?

A contemporaneous review is particularly valuable in outlining current operational standards during an internal assessment. This type of audit involves reviewing operations and practices as they occur in real time, allowing auditors to gather current data and identify how processes align with established standards and policies.

By capturing information about operational practices as they happen, a contemporaneous review provides an accurate snapshot of the organization's adherence to expected protocols, compliance with regulations, and efficiency in processes. This immediacy facilitates effective identification of discrepancies or areas for improvement, helping to enhance overall operational effectiveness and compliance.

In contrast, probe audits might focus on specific areas of concern, retrospective audits analyze past operations and outcomes, while retroactive audits assess previously completed processes. None of these approaches provide the real-time insight that a contemporaneous review delivers, making it the most suitable choice for outlining current operational standards.