This paper focuses on the undeniable importance of documentation and auditability in AI governance. It shows how documentation empowers transparency and assists in regulatory compliance while supporting internal accountability. Moving forward, auditability provides a means to check that these AI systems perform within reasonable bounds and in accordance with the legal and ethical standards.
This means organizations can put the processes of documentation and auditability at the core of the governance of their AI in appreciation of their dual aims of regulatory readiness and trust enablement. This paper outlines an actionable roadmap for business leaders on how to put these in place while illustrating how governance can play a dual role: acting as a compliance bulwark and a competitive advantage among businesses in an AI-led economy.