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