The GDPR and the AI Act: the upcoming challenge of financial institutions
February 2025 marks the beginning of the regulatory shift towards the implementation of the EU Artificial Intelligence Act, or the so-called AI Act.
Independent assurance that strengthens governance, risk management and decision-making

Organisations face increasingly complex risks alongside expanding legal and regulatory requirements. This makes it essential to understand whether your key risks are properly managed and whether controls continue to operate effectively. Independent Internal Audit provides objective assurance and gives your board or audit committee the insights needed to act.
A strong Internal Audit function does more than identify weaknesses. It helps you prioritise risks, strengthen governance and compliance, and make timely, well-informed decisions. With the right expertise and operating model, Internal Audit becomes a valuable instrument for continuously improving your organisation.
We provide independent Internal Audit Services tailored to your organisation, risk profile, and existing capabilities. Depending on your requirements, we can operate as your complete Internal Audit function, provide interim leadership, or complement your existing team with additional capacity and specialist expertise.
Our approach combines a proven methodology with experienced professionals and industry-specific insights. We focus on the risks that matter most and translate our findings into relevant insights for your board or audit committee. This gives you independent assurance while keeping Internal Audit closely aligned with your organisation and its priorities.
Our Internal Audit Services are available through three flexible service models:
An effective Internal Audit function provides independent and objective assurance on the risks, controls and governance processes that matter to your organisation. We help establish a clear Internal Audit charter and governance structure, develop risk-based multi-year and annual audit plans, and perform operational, financial, IT, and compliance audits.
Our services can support an Internal Audit function aligned with global IIA standards. Findings are prioritised and followed up, giving your board or audit committee relevant insights that support better strategic decision-making.
Grant Thornton Netherlands is a member of Grant Thornton International Ltd (GTIL), one of the world's largest networks (#7) of independent accounting and advisory firms, with 76,000 professionals in 156 markets. From eight Dutch offices, more than 700 professionals support our clients with advice and guidance in the fields of accountancy, tax, and (financial) advisory. We deliver world-class expertise in a way that seamlessly aligns with each client's unique situation. We operate from a solid foundation with a flexible and results-driven mindset.

Internal Audit Services provide independent and objective assurance on how effectively your organisation manages risks, controls and governance. As organisations face increasingly complex risks and expanding regulatory requirements, boards and audit committees need reliable insight into whether important risks are understood and controls remain effective.
Internal Audit helps provide this insight through structured, risk-based assessments. It can identify areas for improvement, support compliance and provide relevant information for strategic decision-making. This makes Internal Audit an important part of effective governance and ongoing risk management.
The most suitable model depends on your organisation, existing capabilities, and Internal Audit needs. Fully outsourcing the function can be appropriate when you want access to a complete Internal Audit department, proven methodologies and experienced professionals without managing the function internally.
A managed Internal Audit model can provide an interim Chief Audit Executive to coordinate planning, execution, and reporting. Co-sourcing is particularly useful when you already have an Internal Audit team but require additional capacity or specialist expertise. This provides flexibility while enabling knowledge transfer to your existing team.
Internal Audit can assess different areas depending on your organisation's risk profile, priorities, and audit plan. Our services include operational, financial, IT and compliance audits. We can also support the development or update of your Internal Audit charter and governance, and establish risk-based multi-year and annual Internal Audit plans. The purpose is to focus assurance activities on the risks that matter most to your organisation. Findings can then be prioritised and monitored, providing your board or audit committee with independent insights that support governance, compliance and strategic decision-making.
We are happy to explore together which Internal Audit setup best fits your organisation: fully outsourced, managed Internal Audit / Interim CAE, or co-sourcing and specialist support.
February 2025 marks the beginning of the regulatory shift towards the implementation of the EU Artificial Intelligence Act, or the so-called AI Act.
By 2 August 2027, every financial institution in Europe will have to comply with one of the most significant and wide-reaching AI regulations to date, becoming accountable not only for what their AI does but also for how it was built. Moreover, most of the requirements of the AI Act will already become applicable by 2 August 2026
In line with the Dutch National Bank (DNB) licensing requirements, your payment institution is required to have an internal audit function in place. A strong internal audit (IA) function is crucial to creating a structure for risk management, supporting compliance activities, and providing opportunities to improve business performance.