Ep 296: Why Every Auditor Needs to Learn How AI Agents Work w/ Richard Penfil (AssureSwarm)

AI is changing the way internal audit teams work, but understanding how to use AI agents effectively requires more than simply adopting new tools.

In this episode of The Audit Podcast, Trent Russell sits down with Rich Penfil, former data science manager of I Audit Ops at PayPal and founder of Assure Swarm, to discuss how AI agents are reshaping internal audit.

Rich explains how he uses AI in his personal life, why auditors should focus on reimagining their methodologies and workflows, and the importance of balancing automation with human oversight. They also discuss agent permissions, the risks of the "Lethal Trifecta," upskilling, and why separating your knowledge base from your AI engine can help future-proof your approach.

Timecodes:

02:50 AI in personal life
05:11 AI and the future of internal audit
06:20 Proactive AI workflows
07:35 Build versus buy
09:29 Human oversight
12:33 Upskilling auditors
13:36 AI agent security
15:43 Knowledge base versus engine
16:57 Audit Innovation Challenge
18:11 Final Thoughts

The conversation also explores how auditors can move beyond AI pilots and begin building practical, governed workflows that create lasting value.

Be sure to connect with Trent Russell on LinkedIn and check out Green Skies Analytics for more resources on audit analytics and AI. Also, be sure to follow us on our social media accounts on LinkedIn, Instagram, and TikTok. Also be sure to sign up for The Audit Podcast newsletter and check out the full video interview on The Audit Podcast YouTube channel. This podcast is brought to you by Green Skies Analytics, the services firm that helps internal audit teams make analytics actually work. Whether your audit team needs help with an analytics or AI strategy, methodology, governance, literacy, or anything else related to audit analytics, visit Green Skies Analytics to learn more and schedule a call.