What's new in MindBridge
This release introduces new capabilities for baseline forecasting and configuring MindBridge Score risk ranges.
Functional capabilities
Forecasting
Forecasting provides auditors with an independent, data-driven baseline forecast based on historical general ledger data. The feature generates 12-month forecasts for operating revenue and operating expenses, helping auditors establish expectations that can be compared against management's forecasts.
Interactive forecast visualizations allow auditors to review historical and projected financial trends, including a 95% confidence interval that highlights the range of reasonably possible outcomes. Forecast graphs and supporting data tables can also be exported to support working paper documentation.
Forecasting supports professional skepticism and a more structured, repeatable approach to going concern procedures while keeping professional judgment with the auditor.
Read more about Forecasting here.
Custom risk ranges for MindBridge Score
Custom risk ranges for MindBridge Score allow organizations to align MindBridge Score risk categories with their established methodologies and reporting requirements.
Custom risk ranges are configured at the library level and are applied consistently across supported MindBridge workflows that use MindBridge Score risk categories, including dashboards, data tables, filters, sampling workflows, and relevant exports.
When a library with custom MindBridge Score risk ranges is cloned, the configured ranges are preserved in the new library. Libraries without custom risk ranges continue to use the standard MindBridge Score ranges.
Custom risk ranges change how MindBridge Scores are categorized according to the configured thresholds. They do not change how the MindBridge Score is calculated.
Read more about custom risk ranges for MindBridge Score here.