In this episode, host Troy Fine and producer Elliot Volkman welcome guest Kevin Kriebel, VP of Business Development at Drata. The conversation focuses on the challenges and intricacies of maintaining auditor independence and integrity in the compliance automation landscape. Key topics include the impact of bundling and price fixing on audit quality, the need for improved TPRM functionality, and the role of enterprises in ensuring higher standards. The discussion also addresses the importance of education and transparency in mitigating the risks associated with low-quality audits and driving market changes.

01:04 Introductions and Ground Rules

02:23 Discussing Auditor Independence

04:30 Challenges in the Audit Industry

06:19 Vendor Relationships and Audit Integrity

10:14 Education Gap in Compliance

23:58 Industry Price Fixing Concerns

27:30 Discussing Audit Automation and Vendor Practices

28:19 The Problem with Bundling Services

29:02 Challenges in Vendor Accountability

30:34 The Role of TPRM and AI in Compliance

33:29 The Importance of Education in Compliance

38:24 Market Dynamics and Compliance Requirements

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In the pilot episode of GRC Uncensored, hosts Troy Fine and Elliot Volkman introduce the podcast aimed at having unfiltered discussions about Governance, Risk, and Compliance (GRC). This episode was recorded before any interviews and offers some retrospectives of what became reality or not. They detail their professional backgrounds, especially highlighting Troy's unexpected journey into auditing and meme culture on LinkedIn. The hosts share the focus of future episodes (which have already been published), including the commoditization of compliance and the quality of audits, while emphasizing the importance of honest and authentic conversations in the GRC field. They also discuss the potential for disagreement among industry professionals and encourage audience engagement and feedback.

00:00 Introduction to GRC Uncensored

00:42 Meet the Hosts: Troy Fine and Elliot Volkman

01:34 Troy's Journey into Auditing and Memes

03:10 The Role of CPAs in Cybersecurity

05:29 The Purpose of GRC Uncensored

07:08 Pilot Season and Episode Preview

09:51 Commoditization of Compliance

19:02 Quality of Audits and Future Topics

21:45 Conclusion and Call for Feedback

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In this episode of GRC Uncensored, hosts Troy Fine and Kendra Cooley, along with producer Elliot Volkman, continue their pursuit of trying to understand what is explicitly holding the GRC world back. Joined by ISO expert David Foreman, the discussion tackles the roles of auditors, tech vendors, and market forces in shaping audit quality.

They explore the significance of audit integrity, the staying power of governance programs, and the varying expectations of companies undergoing audits. Amidst an insightful dialogue, the hosts debate the future of automated compliance tools, check-the-box audits, and the elusive definition of audit quality. Ultimately, the episode underscores the issue's complexity, emphasizing that it's not just about the vendors or auditors but also market demands and expectations.

00:00 Introduction to GRC uncensored

00:42 Meet the hosts: Troy and Kendra

01:05 Controversies and LinkedIn debates

01:37 International expansion and podcast updates

02:28 Commoditization of compliance 03:07 Introduction to Dave and his expertise

04:43 The role of vendors in compliance

07:49 Audit quality and market dynamics

09:49 The importance of audit integrity

13:11 Defining audit quality

20:26 Market expectations and audit quality

23:48 Staying power in compliance programs

28:00 High-quality vs. low-quality audit firms

28:59 Top qualities of a good auditor

29:19 Importance of knowledge in auditing

31:06 Compliance automation tools

32:26 Challenges in finding quality auditors

34:30 The reality of check-box audits

35:34 Accreditation and certification nuances

42:12 The future of auditing and trust centers

43:42 Closing remarks and shameless plugs

47:05 Final thoughts and tagline

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