As organisations adopt and roll out new AI tools, practices in governance, assurance, and risk management often struggle to keep up.
The report, Developing Dynamic Capabilities for AI Risk Governance, explores why the biggest challenge isn’t the technology itself, but an organisation's ability to manage AI responsibly at scale.
Part of the Contemporary Issues in Management Accounting series, the research was led by a team from RMIT University, the University of Queensland, the Institute of Internal Auditors Slovenia, and the University of Split, Croatia, and funded by CIMA General Charitable Trust.
Drawing on in-depth interviews, international survey data, and case studies across regulated and diverse sectors, this research introduces a practical framework for strengthening AI governance.
The framework focuses on three core capabilities: sensing AI opportunities and risks; seizing opportunities through skills, tools, and investment; and transforming processes, controls, and governance structures to support sustainable AI adoption.
The report explores:
Where most organisations are succeeding and where governance gaps remain
Why “off-the-shelf” AI users often have the weakest governance capabilities
The growing need for professionals who combine AI literacy, risk management, and data governance expertise
How stronger governance capabilities improve both risk mitigation and AI outcomes
Whether you’re responsible for AI strategy, risk management, internal audit, governance, or finance, this report will help you identify capability gaps and build a more effective approach to AI oversight.