Release notes: May 2021 – MindBridge: English (US)
What’s new in MindBridge
Now you can add materiality to your analysis, scope accounts for material significance, perform review engagements, and, toggle features on and off to streamline your workflow. Plus, new high-fidelity reports help to standardize and accelerate the presentation and performance of your preliminary and final analytics, and the supporting evidence for your working paper solution.
New features for Q2
Add materiality and scope accounts to focus on relevant data
Adding materiality allows MindBridge to profile various financial statement accounts as quantitatively material or not, so you can filter on accounts that are material to your engagement team.
Scoping accounts allows you to focus analytical procedures and evidence collected to the accounts that you consider to be significant.
Learn more about materiality and account scoping
New custom reports
Generate account summary reports and standardize the presentation of evidence in your working paper solutions. High-fidelity visualizations and metrics automatically populate with your analysis' material and significant accounts.
Review engagements now available
Expand your firm’s use of MindBridge beyond traditional audit engagements with a new system library.
Analysis configuration
Admins have more control over how their teams are using MindBridge. This new dashboard lets App Admins control how risk is displayed, what settings and permissions their teams will have, and the ability to turn analysis features on and off within the library in order to simplify training and align MindBridge with firm methodology.
New visualizations
Financial statements
Understand monetary flows with comprehensive visuals that break down activity between accounts and investigate transaction-level detail for anomalies.
Audit assertion risk
At-a-glance breakdowns of assertion risk scores over time give you quick insights into the key drivers of risk.
New direct connector: Xero
You can now connect yourself or have a client connect to Xero (NA, UK/EU, and AUS). Need more info? Review our article on Bulk import connectors.
GDPdU support
Import this file structure into MindBridge to streamline the ingestion process.
Improvements
Annotations
View every annotation added to an account in the financial statements, each indicating the view and whether filters and/or adjustments were applied when the annotation was added.
File manager
Add files directly to your analysis from the file manager.
Admin and setup
- Simplified workflow now leads you to the recommended next steps after publishing an account grouping
- Appending account groupings with the same file will automatically republish changes
- When creating ratios and filters, the account menu now displays the account number followed by the description
- Fieldwork start dates are now optional fields within engagement creation
Data import
- Fix analysis period overlap issues quickly and easily during file import
- Now you can also leverage the interim analysis feature for “Not-for-profit” and “Not-for-profit with funds” libraries
- Improved clarity about the relationship between column mapping and triggered control points
Analysis results
- The sidebar will only show completed analyses
- Account mapping hierarchy is preserved when using the account type menu and search bar
- Improved column headings on the trial balance checks report and balance checks report