MindBridge Changelog

Increased ability to slice and dice to get the answers you need

The latest release builds upon a series of releases designed to work together to: increase what you can do with MindBridge’s risk score, and look at it from a number of different perspectives.

Assessing risk and performance across cost center, subsidiary, transaction type ensures you’ve got the information you need when you need it. This could be an early warning system for your audit, it could better equip you to prepare a business for sale, or simply help you sleep at night knowing the numbers are reliable.

A risk score for audit assertions

Fifteen brand new assertion risk scores have been included for general ledger analysis to help you better assess how risk breaks down across the various audit assertions, down to the entry-level.

Along with these new risk scores, a new dashboard to help you quantify the risk by assertion for any account or class of transactions has been added.

Financial audit workflow

We have updated the flow of information within general ledger analysis to better reflect a typical audit workflow. You will land on the financial statements view, which will provide a high-level snapshot utilizing an interactive balance sheet and income statement. Subsequent tabs will display a more granular view of your data as you move along.

Data import enhancements

Importing adjusted, reclassification, and elimination entries into an existing general ledger analysis provides you with the most accurate results at the end of period. Use the adjustments toggles to quickly and easily view your financial statements, trends and ratios with or without adjustments applied.

Visualize Accounts Receivable and Accounts Payable subledger risk by assertion

Improve the effectiveness of your AR and AP risk assessments with our updated Risk Overview dashboard! With dynamic views that summarize risk results by relevant assertions, highlight entries of interest, and show objective-based risks aggregated by vendor or customer, you get a richer and more relevant understanding of where risks may lie. 

Understand trends and patterns

By understanding how accounts trend over time, you’re able to add depth and data to client conversations. This release adds a new Financial Statements view, including export capabilities for comments added at the account level. 

Communicate results with high-fidelity reporting

To enable richer discussions and explanations for clients, this release adds a new risk summary report. This high-fidelity report details analysis results and allows you to add additional information to provide context around the data.