Executive accountability

Commonwealth Bank's 2026 AI transparency report, Deloitte's board AI-literacy data and PwC's 2026 AI Performance Study all point the same way: risk teams stuck in a purely advisory role are becoming a competitive liability, not a safeguard. Here's what separates governance that enables from governance that only gates.

APRA and ASIC have both put board AI literacy gaps in writing this year, APRA's 30 April letter to industry and ASIC's 8 May open letter to AFS licensees. Here is what they found, and the questions every board should be able to answer now.