Summary
A risk score is an aggregate score derived from multiple control point scores, displayed on entries and transactions*.
By combining the metrics associated with specific control points, stronger statements emerge about the story behind each each entry and transaction in your dataset, and high risk scores indicate items that may be worth sampling. Most entries will trigger one control point or another, but if a single entry receives a high score from numerous control points, it is likely to be worthy of further scrutiny.
MindBridge offers assertion-based risk scores by default, but your App Admins can create custom risk scores for you and your team, based on your firm's methodology. These risk scores can be further customized as needed within the engagement settings, for tailored analysis results.
Review the assertion risk scores available out-of-the-box with MindBridge below:
Default risk scores in GL analyses
General ledger analyses include the following 15 assertion-based risk scores:
Asset assertion risk scores
- Completeness score
- Existence score
- Presentation score
- Rights and obligations score
- Valuation score
Liabilities and equity assertion risk scores
- Completeness score
- Existence score
- Presentation score
- Rights and obligations score
- Valuation score
Profit and loss assertion risk scores
- Accuracy score
- Classification score
- Completeness score
- Cut-off score
- Occurrence score
Default risk scores in AP and AR analyses
AP and AR analyses also contain the MindBridge score by default, which is an aggregate of all control point scores, as well as the following 4 assertion-based scores:
Each of these scores is an aggregate of control point results that subject matter experts found to be applicable to the assertion. Visit the articles for each of these assertions to see details about which control points are included in each of these risk groups and why.
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