The Evolution of Internal Audit: AI Transformations and Key Insights
In this episode, Michael, George, and Palo dive into the intricacies of the internal audit process and its importance in risk mitigation and organizational improvement. They discuss the different types of internal audits and the role AI can play in revolutionizing these audits by automating tasks and enhancing efficiency. Highlighting the importance of collaboration between GRC and internal audit teams, the conversation emphasizes the potential of AI to streamline processes and improve outcomes. This insightful discussion provides a comprehensive look at the evolving landscape of internal audits and the impact of advanced technologies.
00:00 Introduction and New Team Member
00:12 Role and Responsibilities of Pal Marquez
00:52 Internal Audit Overview
02:03 Types of Internal Audits
05:29 Operational Audits Explained
07:30 Challenges and Solutions in Internal Audits
10:55 AI in Internal Audits
15:46 Future of AI in Auditing
23:40 Collaboration Between GRC and Internal Audit
26:44 Conclusion and Final Thoughts