A. Create a custom object and field to capture necessary compliance information and build custom reports.

Explanation:
- Option (A) is a suitable solution as it involves creating a custom object to store compliance information such as data owner, security level, and compliance types. Custom fields within this object can capture the necessary details. Custom reports can then be built to manage compliance and facilitate audits.
- Options (B) and (C) mention using field metadata or metadata API, but they might not provide the structured and scalable solution needed for compliance management.
- Option (D) involves building reports for field information and then exporting, which could be more manual and less organized than having a dedicated custom object for compliance information.