A new security regulation was announced that will take effect in the coming year. A company must comply with it to remain in business. Which of the following activities should the company perform next?

A gap analysis is the most appropriate next step. It systematically compares the company's current security posture and practices against the requirements of the new regulation. This process identifies specific areas where the company falls short (the "gaps") and helps prioritize remediation efforts to achieve compliance. Policy review, while important, is a component of a gap analysis, not the overarching first step. You need to know what policies need reviewing based on the new regulation. Security procedure evaluation is also a more granular activity that would follow a gap analysis to assess how current procedures align with new requirements. Threat scope reduction is a security control objective, not an initial activity for regulatory compliance; the regulation itself might define the scope of threats to address.