An AI audit program is being developed for a large bank. Which sequence of activities represents the CORRECT logical order for conducting an AI model audit?
Select an answer to reveal the explanation.
Short Explanation
You need to start by defining the audit scope and objectives, then assess risk tier before reviewing documentation, testing performance, evaluating controls, and reporting. That sequence keeps the audit focused and makes sure you test the right things at the right depth.
Full Explanation
The correct sequence is to define audit scope and objectives, assess risk tier, review documentation and validation records, test model performance, evaluate controls, and report findings. Scope establishes what is audited and why, risk tier calibrates testing depth, documentation review sets the baseline, performance testing validates claims, control evaluation assesses governance, and reporting comes last. Beginning with performance testing before scope and documentation review is inefficient and may miss key risks. Reporting before testing or scope definition is invalid. Assessing controls before scope and assigning risk tier too late also breaks the audit logic.