2026 AI Risk Control Checklist for Australian SMEs

2025 AI Risk Checklist Australia for SMEs — Practical Controls & Templates

Step-by-step, regulator-aware controls and templates to manage AI operational, privacy and regulatory risk for Australian small and medium businesses.

Graham Chee•Principal and Founder, Local Knowledge

FCPA

CPA

GRCP

GRCA

Published 10 March 2026

Expert Content Verification

Content reviewed and verified by Graham Chee, with FCPA-led practice at Local Knowledge, Mascot NSW. Continuous CPA Australia member since 1986. Prior career at Goldman Sachs, BNP Investment Management and Merrill Lynch.. Last reviewed March 2026. Next review scheduled for June 2026.

Why Australian SMEs need an AI risk checklist in 2025 (NSW & national risks)

10-step AI operational risk controls for SMEs — checklist and responsibilities

Privacy & OAIC compliance: a short checklist for Australian businesses using AI

Small business AI governance template: roles, policies and recordkeeping

Vendor due diligence, data management and incident response — quick audit rubrics

Real client examples: how we remediated model bias and data leakage (case studies)

Next steps: monitor, report to ACCC/OAIC and continuous improvement

Frequently Asked Questions

Expert Perspective

Next steps & how we can help

About the Author

Graham Chee, FCPA, CPA, GRCP, GRCA

Principal and Founder, Local Knowledge

Graham Chee is the principal and founder of Local Knowledge, an FCPA-led Australian practice that brings institutional-grade compliance, investment-structure and intellectual-property experience directly to owner-managed businesses. Graham is a Fellow of CPA Australia (FCPA since November 2005, continuous CPA member since 1986) and holds the OCEG Governance, Risk & Compliance Professional (GRCP) and Governance, Risk & Compliance Auditor (GRCA) designations. His prior career includes senior roles at Goldman Sachs, BNP Investment Management and Merrill Lynch. Graham was previously portfolio manager of the Asian Masters Fund (IPO December 2007 – 31 December 2009), which returned +29% in AUD terms versus the MSCI Asia Pacific (ex Japan) benchmark. He signs off on 100% of client files personally.

Areas of Expertise:

Strategic Business Advisory

Taxation Planning & ATO Compliance

Business Valuation

Succession Planning

Investment-Structure Governance

Governance, Risk & Compliance

Australian Financial Reporting (AASB)

Intellectual Property Protection

Experience: FCPA-led practice at Local Knowledge, Mascot NSW. Continuous CPA Australia member since 1986. Prior career at Goldman Sachs, BNP Investment Management and Merrill Lynch.

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Graham Chee FCPA, CPA, GRCP, GRCA · Principal, Local Knowledge · Mascot NSW · CPA-signed files