AI Audit & Assessment
Independent assessment of your AI governance maturity, regulatory compliance, and risk management effectiveness. Know where you stand before regulators ask.
We conduct comprehensive AI audits aligned to APRA, ASIC, and Privacy Act requirements - providing actionable findings and a clear roadmap to compliance.
Why Assess Now?
Regulators are asking questions about AI governance. Most organisations don't know where they stand until it's too late.
ASIC Found Gaps
ASIC REP 798 reviewed 23 licensees and found governance gaps at nearly all of them. Half lacked fairness and bias policies. Most had immature generative AI governance.
Regulatory Requirements Active
CPS 230 is now in effect. Privacy Act automated decision-making requirements arrive December 2026. Assessment now gives you time to identify and remediate gaps.
Board Needs Answers
Directors face personal liability under FAR. Boards need independent assurance that AI governance is adequate. Self-assessment isn't enough.
Assessment Options
Choose the assessment scope that fits your needs - from targeted regulatory gap analysis to comprehensive governance reviews.
Regulatory Gap Analysis
Focused compliance assessment
Targeted assessment against specific regulatory requirements: APRA CPS 230, ASIC REP 798 expectations, or Privacy Act automated decision-making provisions.
- Regulatory requirement mapping
- Gap identification and severity rating
- Remediation recommendations
Typical duration: 3-4 weeks
Governance Maturity Assessment
Comprehensive governance review
End-to-end assessment of AI governance maturity across framework, policies, processes, controls, and reporting. Benchmarked against industry standards.
- AI inventory and classification
- Governance framework evaluation
- Maturity scoring and benchmarking
- Prioritised improvement roadmap
Typical duration: 6-8 weeks
AI System Audit
Technical and operational review
Deep-dive assessment of specific AI systems: model validation, bias testing, performance monitoring, documentation review, and control effectiveness.
- Model documentation review
- Bias and fairness assessment
- Control design and operating effectiveness
Typical duration: 4-6 weeks per system
Assessment Framework
Our assessment methodology is aligned to Australian regulatory expectations and international standards, providing findings that satisfy both internal stakeholders and regulators.
Aligned to Standards
Scoping and Planning
We define assessment scope, identify key stakeholders, gather preliminary documentation, and establish the assessment criteria and timeline.
Documentation Review
We review governance frameworks, policies, procedures, AI inventories, risk registers, and board reporting to assess design effectiveness.
Stakeholder Interviews
We conduct interviews with key stakeholders: executives, risk teams, compliance, IT, data science, legal, and business units to understand actual practices.
Control Testing
We test the operating effectiveness of key controls: approval workflows, monitoring processes, incident response, and reporting mechanisms.
Findings and Reporting
We document findings with severity ratings, root cause analysis, and specific recommendations. Reports are suitable for board, audit committee, and regulator consumption.
What You Receive
Actionable findings and recommendations that drive meaningful improvement.
Assessment Report
Comprehensive findings report with executive summary, detailed observations, severity ratings, and evidence. Board-ready format.
Gap Analysis Matrix
Detailed mapping of current state against regulatory requirements with gap severity and compliance status for each requirement.
Maturity Scorecard
Governance maturity ratings across key domains: framework, policies, risk management, controls, monitoring, and reporting.
Remediation Roadmap
Prioritised action plan with specific recommendations, ownership assignments, and suggested timelines aligned to regulatory deadlines.
Board Presentation
Executive presentation summarising key findings, risk exposure, and recommended actions for board and audit committee.
Management Debriefs
Working sessions with management to discuss findings, answer questions, and agree on remediation approach.
Who This Is For
AI audit and assessment is valuable for organisations that need independent assurance about their AI governance effectiveness.
Board and Audit Committees
Seeking independent assurance on AI governance and risk management effectiveness.
APRA-Regulated Entities
Banks, insurers, and super funds preparing for CPS 230 compliance and regulatory scrutiny.
Internal Audit Teams
Supplementing internal capabilities with specialist AI governance audit expertise.
Pre-Implementation Baseline
Organisations about to implement AI governance programs wanting to establish a starting baseline.
Frequently Asked Questions
How is this different from internal audit?
We bring specialist AI governance and regulatory expertise that most internal audit teams don't have. We complement internal audit with deep AI knowledge, benchmarking against industry standards, and an external perspective on governance effectiveness.
Can the findings be shared with regulators?
Yes. Our reports are designed to be regulator-ready. Many clients use our assessments to demonstrate proactive governance efforts to APRA or ASIC during supervisory engagements.
What access do you need?
We need access to governance documentation, key stakeholders for interviews, and relevant systems/tools for control testing. We work with your teams to minimise disruption while ensuring comprehensive coverage.
Do you also help with remediation?
We can provide remediation support as a separate engagement. Many clients use our AI Governance Consulting, Risk Framework Development, or Policy Development services to address assessment findings.
Related Services
AI Governance Consulting
Build the governance framework and operating model to address assessment findings.
Learn more →Risk Framework Development
Develop AI risk taxonomies and assessment methodologies to close control gaps.
Learn more →AI Policy Development
Create the policies and procedures identified as gaps during assessment.
Learn more →Know Where You Stand
Request an AI governance assessment to understand your current maturity, identify compliance gaps, and get a clear roadmap to regulatory readiness.