Thorough model validation helps create public trust

Performing risk analyses or detection by using algorithms may seem like a complex process, but this complexity has its origins in human decision-making. To prevent risks and negative consequences, such as unjustified bias, an independent review must be conducted. This guarantees quality and compliance with legal and ethical frameworks. KPMG has developed a method for performing independent model validations, based on a uniform assessment framework that distinguishes between four different aspects. Model validation also includes the performance of technical tests. The work to be performed and the technical tests as part of the assessment framework result in observations, findings and recommendations that the model validator reports to the organization.

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