KPMG Australia first to achieve ISO 420001 AI standard

KPMG Australia has announced it is the first organisation worldwide to achieve the ISO 420001 (AI) certification by BSI.

ISO 42001 is a new international standard that outlines necessary requirements for the establishment, implementation, maintenance, and ongoing improvement of an Artificial Intelligence Management System (AIMS) within organisations.

This standard, administered by the International Organization for Standardization, is the first of its kind, providing essential guidelines for managing AI safely and ethically as it becomes a more integral part of technological development.

Manuela Gazzard, President of Regulatory Services at BSI, emphasised the importance of this certification. "AI has the potential to be a significant force for good in society, transforming lives everywhere. But to realise its benefits having the guardrails in place for the safe and ethical use of AI is critical."

Gazzard continues, "It's fantastic to see KPMG Australia demonstrate the work they have done to ensure the safe and responsible use of AI and become the first in the world to achieve BSI's certification to the AI management system standard. This is an important step forward and one that has the potential to empower other global organisations to responsibly manage their technology."

The certification process commenced with the release of the ISO 42001 standard in December 2023. KPMG organised a dedicated team in February 2024 to prepare for the certification, which involved a comprehensive audit of its AI strategies, from governance to project management. The audit focused on embedding Trusted AI practices in the firm's operations.

Gazzard also noted that, "Certification to this standard offers reassurance to stakeholders on the safe and responsible use of AI in an organisation's products and services, paving the way for them to harness AI to accelerate progress towards a better future and a sustainable world. BSI is proud to be at the forefront of ensuring AI's safe and trusted integration across society."

KPMG's digital initiatives have included the early adoption of AI. In 2023, the company launched KymChat, a proprietary version of Chat GPT, for internal and client use. In 2024, KPMG also introduced KymTax, a platform combining research tools, knowledge management, and content generation, and recognised as one of the first generative AI applications in tax services globally.

John Munnelly, Chief Digital Officer at KPMG Australia, reflected on the achievement, stating: "AI can solve complex challenges, and unlock new possibilities for growth. We are committed to helping our clients embrace this technology in a trustworthy and ethical manner, enhancing both efficiency and innovation."

"With ISO42001 emerging as the new gold standard for AI certification, we are delighted that our approach has met this extremely high bar. This certification of our robust AI management system is testament to the fact that we are living and breathing our trusted AI commitment. It is also integral to our ongoing AI strategy, which focuses not just on high-level governance but also detailed implementation to build ethical AI solutions in accordance with ISO42001 standards."