ASIC REP 798
ASIC Report 798, Beware the gap: governance arrangements in the face of AI innovation, published 29 October 2024.
ASIC reviewed 624 AI use cases across 23 financial services and credit licensees and found adoption outpacing governance, often with third-party models.
| ASIC looks for | In CognaOne |
|---|---|
| Governance that keeps pace with AI use | Discovery and the inventory keep the register current |
| Risk judged from the consumer’s side, bias included | Customer impact in each risk rating; people affected in each profile |
| Accountability kept for third-party AI | Vendors and models linked to systems with owners |
| Accurate claims about how AI is used | One source of truth for what each system does |
This page is general information, not legal advice. Sources checked October 2026.
Last reviewed October 2026Suggest a change