A financial services firm is introducing AI for fraud detection. The firm has a mature enterprise risk management (ERM) framework with defined risk appetite statements. The AI system introduces new risks such as model drift and adversarial attacks. What is the best way to align AI risk governance with the existing ERM framework?

Treat AI risks as a separate category outside the ERM framework, since they are unique

Create a standalone AI risk register that is not integrated with the ERM system

Delegate AI risk management to the IT department, as it is a technical issue

Map AI risks to existing risk categories and assess them against the firm's risk appetite

Why is it important to allocate clear accountability for AI systems?

To reduce the need for documentation

To ensure that risks and impacts are managed and that there is a point of answerability

To shift blame to technology when things go wrong

To speed up the development process by removing checks

Which of the following is an example of an AI oversight structure?

A cross-functional AI governance committee

A software development tool like GitHub

A single data scientist working independently

An informal chat group for AI enthusiasts

A retail company has established AI governance roles and oversight committees. After a year, the board wants to ensure that the governance structure is actually effective and that accountability is working as intended. What is the most appropriate way to assess this?

Conduct an annual review of AI governance, including interviews with stakeholders and analysis of incident reports

Check that all AI projects have a documented owner, without further review

Wait for a major incident to reveal any weaknesses in the governance structure

Rely on the AI governance committee's self-assessment that everything is working well

ISACAAdvanced in AI Risk

Domain 1Objective 3

AI Ownership, Oversight, and Accountability AAIR Practice Questions (Page 6)

Part of the AI Risk Governance and Framework Integration domain, which accounts for 37% of the AAIR exam.

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Questions 26–29

26application · medium
A financial services firm is introducing AI for fraud detection. The firm has a mature enterprise risk management (ERM) framework with defined risk appetite statements. The AI system introduces new risks such as model drift and adversarial attacks. What is the best way to align AI risk governance with the existing ERM framework?
Select an answer first
27foundation · easy
Why is it important to allocate clear accountability for AI systems?
Select an answer first
28foundation · easy
Which of the following is an example of an AI oversight structure?
Select an answer first
29application · medium
A retail company has established AI governance roles and oversight committees. After a year, the board wants to ensure that the governance structure is actually effective and that accountability is working as intended. What is the most appropriate way to assess this?
Select an answer first

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AI Ownership, Oversight, and Accountability AAIR Practice Questions (Page 6)

Questions 26–29

Why is it important to allocate clear accountability for AI systems?

Which of the following is an example of an AI oversight structure?

A retail company has established AI governance roles and oversight committees. After a year, the board wants to ensure that the governance structure is actually effective and that accountability is working as intended. What is the most appropriate way to assess this?

Keep studying — AI Risk Governance and Framework Integration