In this episode of Financial Modeler’s Corner, Paul Barnhurst speaks with Ryan Humphrey about financial model auditing, the skills strong modelers need, and how AI is changing the profession. Ryan explains why communication, judgment, and independence matter alongside technical ability. He also shares how model audits work, why poorly structured models create risks, and how AI could shift financial modelers from building models toward reviewing and refining them.

Ryan Humphrey is a Partner at Forvis Mazars in London, specializing in financial model audits, including accounting and tax reviews. A qualified chartered accountant, he contributed to How to Review a Spreadsheet and co-authored Credible Model Audit for the AI Era. He is also conducting research with Cambridge University in sustainability leadership and is an advocate for the energy transition.

Expect to Learn:

Why communication is essential in financial modeling
How independent financial model audits support major investment decisions
Why human judgment remains critical as AI improves
How AI could shift financial modelers from building to reviewing
Why continuous learning is increasingly important in the AI era

Here are a few relevant quotes from the episode:

“The model really is... a communication vector more than anything. It's about telling a story.” - Ryan Humphrey
“What cannot be replaced is judgement.” - Ryan Humphrey

AI is becoming increasingly capable of understanding and building spreadsheets, but credible-looking outputs can still contain errors. As AI takes on more of the technical building process, financial modelers will need to focus even more on judgment, review, communication, and understanding what a model is designed to accomplish.