The Chamber recognizes the purpose of certification, audits, and assessments as a means for organizations to utilize repeatable and standard methodologies to help them improve the explainability of an algorithm. [...] Furthermore, there are strong apprehensions regarding any mandatory third-party audit requirement. Audits and assessments can costs hundreds of thousands of dollars, which can be cost-prohibitive, especially for start-ups and small businesses that may not have the necessary capital and funding for such expenses. Such an inability to meet compliance costs may lead these organizations to merge with other companies or not enter the market, reducing the overall market size and potentially reducing innovation. (2023) source Unverified