In this episode of GRC Uncensored, hosts Troy Fine, Kendra Cooley, and producer Elliot Volkman dive into an unfiltered discussion with Joseph Kirkpatrick, founder and president of KirkpatrickPrice. The focus is on the implications of private equity and compliance automation tools in GRC. Joseph shares his insights on how the influx of private equity funding and the rise of 'SOC in a box' platforms have transformed the GRC landscape, often negatively impacting audit quality and independence. Key topics include the challenge of maintaining ethics in auditing, the adverse effects of aggressive marketing by compliance tools, and the importance of conducting thorough, unbiased audits. The conversation also touches on the difficulty audit firms face when pressured to lower costs or cut corners to retain business.01:21 The Impact of SOC 2 Platforms02:51 Private Equity's Influence on the Industry03:04 Challenges Faced by Licensed Practitioners04:32 Marketing Dollars and Industry Perception06:06 The Role of Compliance Tools10:51 Conflicts of Interest in Auditing21:08 The Reality of Zero-Touch Audits24:46 Trusting Compliance Platforms33:44 Challenging the Status Quo in Auditing34:27 Targeting the Right Market35:09 The Role of Audit and Customer Expectations35:44 Critique of AICPA and Cybersecurity Education36:55 Practitioners' Responsibility in Auditing39:13 The Problem with Automation Tools43:30 Shady Business Practices in Auditing47:29 Ethics and Integrity in Auditing50:34 The Importance of Thorough Audits Hosted on Acast. See acast.com/privacy for more information.

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