Public Funding for Cambridge Flair Limited

The Centre for Data Ethics and Innovation (CDEI) has outlined a strategy to establish a robust and advanced AI assurance services ecosystem in the UK. According to CDEI, the main bottlenecks and initiatives aimed at promoting the adoption of AI assurance across three sectors: * HR and Recruitment, * Finance, and * Connected & Automated Vehicles (CAV). With our previous experience in financial sectors of providing governance of enterprise IT (GEIT) for creating a robust and resident governance system, we aim to target the financial sector to provide our solution using an AI-enabled GEIT solution with advanced compliance to advance trust in the compliance and risk of AI systems. This project aims to perform a feasibility study to develop a smart audit system for AI Assurance and IT Governance solutions to reduce errors and make the financial decision-making processes integral to day-to-day services. We intend to unravel the dynamics of the typical errors in accountancy and how IT governance can be useful in this regard. We aim to build a full-fledged explainable IT Governance solution that will follow the best security practices to minimise the risks considering digital assets (e.g., accounting data, cash flow, financial planning) by creating a structured behavioural norm (e.g., shared values and beliefs). Therefore, we can capture data and stakeholders' attitudes and build bespoke behavioural norms for reducing risks and mitigating loopholes in the existing error-prone practices. Our proposed solution acknowledges the importance of culture, ethics and behaviour in achieving organisational objectives while promoting appropriate culture(s) in reducing and managing risk. We shall also identify the key performance indicators (KPI) for reducing risks of all the stakeholders in the governmental edifice who will be directly affected by culture change. This will also reveal the appropriate capability level mentioned in the Control Objectives for Information and Related Technologies (COBIT) assessment guideline based on ISO 15504\. Humans are the building blocks and the weakest links in any organisation. We aim to validate human factors by analysing different dimensions: social, cognitive, behavioural, and emotional, using the Behaviour Change Technique (BCT) framework. Therefore, our holistic and bespoke solution for audit services will address the importance of human factors, leadership and cyberculture for effective organisational and cultural change by handpicking the best practices. As a result, the solution will help identify the pain and trigger points of various risks and assist the decision-makers in taking appropriate action to prevent any damage.