Glossary term
Glossary term
Governance and Compliance
An evaluation of potential effects of an AI system on individuals, groups, rights, safety, access, fairness, and broader society. It complements organizational risk assessment by focusing outward and tests necessity, proportionality, stakeholder impact, rights implications, alternatives, mitigations, and post-deployment monitoring.
The EU AI Act Article 27 requires Fundamental Rights Impact Assessments (FRIA) before public bodies and certain private deployers use high-risk AI systems.
Canada's Algorithmic Impact Assessment Tool generates a public-facing AIA report scoring federal AI on four impact levels using questions on impact, governance, and quality.
ISO/IEC 42005:2025 (AI System Impact Assessment) provides international guidance on conducting impact assessments and is crosswalked to NIST AI RMF in NIST publication 2025-00108.