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 Platforms

02:51 Private Equity's Influence on the Industry

03:04 Challenges Faced by Licensed Practitioners

04:32 Marketing Dollars and Industry Perception

06:06 The Role of Compliance Tools

10:51 Conflicts of Interest in Auditing

21:08 The Reality of Zero-Touch Audits

24:46 Trusting Compliance Platforms

33:44 Challenging the Status Quo in Auditing

34:27 Targeting the Right Market

35:09 The Role of Audit and Customer Expectations

35:44 Critique of AICPA and Cybersecurity Education

36:55 Practitioners' Responsibility in Auditing

39:13 The Problem with Automation Tools

43:30 Shady Business Practices in Auditing

47:29 Ethics and Integrity in Auditing

50:34 The Importance of Thorough Audits

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