Exactprep ISO-IEC-42001-Lead-Auditor Questions

Question:

Which of the following responsibilities belongs to the certification body?

An audit team member is tasked with evaluating a sophisticated AI system used for autonomous driving. They lack the necessary expertise but proceed without consulting a specialist. Which principle is being neglected in this scenario?

Which of the following statements best describes the evidence collection process carried out by the audit team at Finalogic? Refer to Scenario 4.

Scenario 4: Finalogic leads the application of artificial intelligence in the financial services sector, which is used to improve risk assessment, fraud detection, and

customer service. The company has implemented an artificial intelligence management system AIMS based on ISO/IEC 42001 to ensure operational quality, ethical Al

use, regulatory compliance, and transparency, allowing for consistent oversight and structured governance.

This month, Finalogic is undergoing an audit to obtain certification against ISO/IEC 42001, a critical step in demonstrating its commitment to responsible Al. To

evaluate Finalogic's conformity to the audit criteria, the audit team adopted a comprehensive, evidence-based approach. The gathered evidence ranged from analyses

of unquantifiable information to analyses of samples related to determining the audit criteria-including internal reports generated by Finalogic's own Al system-which

assert successful integration and compliance with the standard.

Additionally, presentations by the company’s Al team during the audit highlighted the system’s success in customer service enhancements and fraud detection,

emphasizing improved efficiency, decision making accuracy, and user trust. An evaluation report prepared by an independent third party firm specializing in Al systems

also provided an objective review of Finalogic's AIMS. It assessed the system's effectiveness, bias, and compliance through a thorough examination.

During the audit, the audit team applied the same level of effort and utilized the same techniques across all audit areas, regardless of their risk level. This strategy

ensured a consistent and thorough evaluation of the AIMS, uncovering any latent weaknesses or inefficiencies that might otherwise go unnoticed.

Despite Finalogic's advanced AIMS and adherence to ISO/IEC 42001 for ethical Al practices, there remains a risk of Al algorithms inadvertently perpetuating bias or

making inaccurate predictions due to unforeseen flaws in training data or algorithmic models. This could lead to unfair loan rejections or approvals, potentially causing

financial losses or damaging the company’s reputation for fairness and accuracy in its financial services. By acknowledging these risks. Finalogic remains committed

to refining its Al governance, implementing bias mitigation strategies, and enhancing transparency to uphold its reputation as a leader in Al driven financial services.

Scenario 6 (continued):

Scenario 6: HappilyAI is a pioneering enterprise dedicated to developing and deploying artificial intelligence Al solutions tailored to enhance customer service experiences across various industries. The company offers innovative products like virtual assistants, predictive analytics tools, and personalized customer interaction platforms. As part of its commitment to operational excellence and innovation, HappilyAI has implemented a robust Al management system AIMS to oversee its Al operations effectively. Currently. HappilyAI is undergoing a comprehensive audit process of its AIMS to evaluate its compliance with ISO/IEC 42001.

Under the leadership of Jess, the audit team began the audit process with meticulous planning and coordination, setting the groundwork for the extensive on-site activities of the stage 1 audit. This initial phase was marked by a comprehensive documentation review. The audit scope encompassed a critical review of HappilyAI's core departments, including Research and Development (R&D), Customer Service, and Data Security, aiming to assess the conformity of HappilyAI's AIMS to the requirements of ISO/IEC 42001.

Afterward, Jess and the team conducted a formal opening meeting with HappilyAI to introduce the audit team and outline the audit activities. The meeting set a collaborative tone for the subsequent phases, where the team engaged in information collection, executed audit tests, identified findings, and prepared draft nonconformity reports while maintaining a strict quality review process.

In gathering evidence, the audit team employed a sampling method, which involved dividing the population into homogeneous groups to ensure a comprehensive and representative data collection by drawing samples from each segment. Furthermore, the team employed observation to deepen their understanding of the Al management processes. They verified the availability of essential documentation, including Al-related policies, and evaluated the communication channels established for reporting incidents.

Additionally, they scrutinized specific monitoring tools designed to track the performance of data acquisition processes, ensuring these tools effectively identify and respond to errors or anomalies. However, a notable challenge emerged as the team encountered a lack of access to documented information that describes how tasks about AIMS are executed. In addition to this, the team identified a potential nonconformity within the Sales Department. They decided not to record this as a nonconformity in the audit report but only communicated it to the HappilyAI's representatives.

During the stage 2 audit, the certification body, in collaboration with HappilyAI, assigned the roles of technical experts within the audit team. Recognized for their specialized knowledge and expertise in artificial intelligence and its applications, these technical experts are tasked with the thorough assessment of the AIMS framework to ensure its alignment with industry standards and best practices, focusing on areas such as data ethics, algorithmic transparency, and Al system security.

Question:

Based on Scenario 6, the auditor did not include the potential nonconformity of the Sales Department in the audit report. Is this acceptable?