Ep 213: Transforming Audit in 2024 w/ Stephanie Richard

This week, we’re testing an exciting new AI tool called Notebook LM. This tool takes written articles, processes the data, and turns them into podcasts with artificially generated voices.   We decided to try it out using an article by Monica Royal, founder of Nerd Nourishment. Monika attended the 2024 Audit Analytics and AI Conference and wrote a great LinkedIn article about her key takeaways. We uploaded her article to Notebook LM, and the result is an unedited, AI-generated podcast episode.   If you're curious about how AI can transform how we share and listen to information, give it a listen! Be sure to read Monica’s article.   Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.   Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.   Timecodes: 0:48 - What's Notebook ML? 3:50– Insider Perspective on AI and analytics 4:55 – Exploring AI and Machine Learning 5:26 – How AI Is Transforming Security 7:00 – Storytelling Through Data Visualization 8:55 – Embracing Innovation and New Technology 10:02 – Closing Insights   *   This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.  Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week’s episode, we're joined by Tom O’Reilly, Founder of Internal Audit Collective.   In this episode, Tom talks about what he would change in the audit profession, the importance of bringing in outside perspectives, working with consultants during audits, and helping auditors grow their careers. Be sure to connect with Tom on LinkedIn.     Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.   Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.   Timecodes: 2:50 - What's in your Internet Browsing History? 8:27 – One Thing to Change About Auditing 13:58 – Adding Outside Perspectives to Audits 23:18 – Working with Consultants in Audits 28:46 – Helping Auditors Grow Their Careers 36:12 – Final Thoughts   *   This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.  Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week’s episode, we're joined by Michael Pellet, Director of Internal Audit at Lyft. In this episode, Michael explores strategies for hiring and retaining top talent, highlighting his innovative staffing model. He emphasizes the importance of all auditors being proficient in data, even if they aren’t experts in AI, and underscores the critical role of data governance in today's audit landscape. Michael also shares how marketing automation techniques can be adapted to enhance internal audit processes. Be sure to connect with Michael on LinkedIn.   Resources:   Why All Internal Auditors Need to Be Data Experts - Internal Audit 360   Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.   Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.   Timecodes: 2:19 - What's in your Internet Browsing History? 6:10 - Tackling Hiring and Retention Challenges 16:17 - Innovative Staffing Model 18:03 - Why All Auditors Should Be Data Experts (But Not Necessarily AI Specialists) 27:28 - Why Data Governance Matters More Than Ever 36:48 - Applying Marketing Automation Techniques to Internal Audit 47:22 - Final Thoughts   *   This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.  Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week’s episode, we're joined by Julio Tirado, Executive Vice President-Director of Internal Audit & Compliance at SpiritBank.   In this episode, we focus on responsible AI and effective strategies for managing new technologies. Julio shares insights on integrating AI in the workplace, understanding AI hallucinations, and exploring emerging AI trends. He also recommends some great AI resources.   Be sure to connect with Julio on LinkedIn.   Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.   Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.   Timecodes: 1:07 - What's in your Internet Browsing History? 4:44 – Exploring Responsible AI 8:36 – Integrating AI into Your Workspace 11:35 – Applying Responsible AI to Internal Audit and Risk 18:24 – Understanding AI Hallucinations 22:27 – ChatGPT and Security Considerations 28:44 – Emerging Trends in AI Technology 37:58 – AI Community and Top Resources 42:36 – ChatGPT's Final Thoughts   *   This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.  Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week’s episode, we're joined by Marie Walsh, Spotify’s Head of Internal Audit and Risk.   In this episode, Marie shares her passion for guiding team members in their career paths, both within and beyond internal audit. She discusses her empowering strategies, including thoughtful one-on-one sessions that support individual growth, as well as her priorities for adding real value to Spotify’s leadership. Be sure to connect with Marie on LinkedIn.   Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.   Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.   Timecodes: 2:44 - What's in your Internet Browsing History? 6:38 - Analytics and AI Innovation at Spotify 10:00 - Guiding Your Team's Growth in Internal Audit 16:26 - Building Departmental Connections That Influence Beyond 20:16 - The Power of One-on-One Meetings 27:06 - Final Thoughts   *   This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.  Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week’s episode, we're joined by Norman Marks, author, thought leader, blogger, teacher, and occasional consultant.   In this episode, Norman shares what he sees as the top priority for Chief Audit Executives and gives practical tips on handling budget challenges, especially as audit teams face higher demands without matching resources. Be sure to connect with Norman on LinkedIn.   Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.   Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.   Timecodes: 4:47 - What's in your Internet Browsing History? 11:45 — Key responsibilities for CAEs 20:25 — Approaches to adding value 27:42 — Strategies for justifying budget for internal audit 36:00 — Achieving audit objectives 44:20 - Ways to Improve Your Thinking   *   This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.  Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week’s episode, we're joined by Richard Chambers, Senior Advisor over Risk and Audit at AuditBoard. In this episode, Richard explores the concept of connected risk, explaining what it means in today’s environment and why it’s become increasingly important. He also highlights key takeaways from his latest book, Connected Risk: Conquering the Perilous Risk Exposure Gap. Be sure to connect with Richard on LinkedIn. Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok. Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel. Timecodes: 2:50 - What's in your Internet Browsing History? 5:38 - Understanding Connected Risk in the Three Lines Model 9:02 - Responses to Connected Risk 12:00 - Key Traits of Connected Risk Thinkers 13:27 - The Future of Risk Management 15:53 - Preparing for Downstream Impacts 19:05 - Embracing Connected Risk Strategies 22:55 - Final Thoughts * This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.  Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week’s episode, we're joined by joined by Stephanie Richard, Chief Audit Executive at Ally. In this episode, Stephanie shares how she transformed the culture and mindset of her internal audit team of over 150 auditors. She talks about the challenges of driving innovation in a large team, staying ahead of emerging trends, and guiding her department to become more data and AI driven. She also offers advice for current and aspiring CAEs on improving efficiency and impact. Be sure to connect with Stephanie on LinkedIn.   Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.   Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.   Timecodes: 2:50 - What's in your Internet Browsing History? 5:55 - Shifting Internal Audit Mindsets 13:35 - Transforming a Large Audit Department 19:20 - Anticipating Risks as an Auditor 23:20 - Guidance for Aspiring CAEs 24:40 - Embracing Disruption in Audit 26:35 - Building Habits to Change Mindsets29:35 - Final Thoughts   *   This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.  Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week’s episode, we're joined by Aaron Gagnon, Partner and Chief Audit Officer at McKinsey & Company. In this episode, Aaron shares his personal mantra, "show up and try," and explains how this mindset influences his work and life. He highlights his unique approach to hiring, focusing on both experience and key qualities that set candidates apart. Aaron also discusses the challenges of managing relationships across the C-suite, audit committees, and management staff, offering practical insights for handling these dynamics.  Be sure to connect with Aaron on LinkedIn.   Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.   Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.   Timecodes: 3:38 - What's in your Internet Browsing History? 8:40 - Aaron’s motto: "Show Up and Try." 16:15 - Aaron's Hiring Mindset 25:15 - Fraud Story 26:09 - The Challenge of Regulators as a CAE 29:14 - Building Relationships with Trust 32:44 - Building your Philosophy as a Leader 36:02 - Final Thoughts   *   This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.  Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week’s episode, we are highlighting clips from previous episodes of the best advice about hiring and retention. In this episode, Scott Madenburg talks about the balance between recruiting for talent versus character, while Melissa Pici highlights the importance of screening candidates for passion, curiosity, and drive. Jo Erven shares her approach to preparing the next generation to tackle hiring and retention challenges, and Megan Blackstone outlines her company’s process for building a talent pipeline that helps them fill roles within a month.   Be sure to connect with Scott, Melissa, Jo, and Megan on LinkedIn.   Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.   Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.   Timecodes: 1:41 - Recruiting Talent vs. Character 7:47 - Screening Candidates for Passion, Curiosity, and Drive 11:03 - NextGen Solution to Hiring and Retention 15:11 - How to Build a Talent Pipeline and Fill Roles within a Month   *   This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.  Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.