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MindBridge Review library

Article author
Tasha Kociszewski
  • Updated

Summary

A review engagement is conducted to provide limited assurance about whether the financial statements as a whole are free from material misstatement.

MindBridge empowers accountants to enhance their analytical capabilities by analyzing the underlying data contained in the financial statements. The use of AI and advanced analytics, such as multivariate regression, statistical analyses, and data visualization, provides insights that improve the sufficiency and appropriateness of review evidence in a more timely fashion.

The core value of the MindBridge Review library for review engagements is the streamlined and repeatable analytics that can be used to improve efficiency.

Note: The MindBridge Review library can only be applied to a general ledger review engagement.

MindBridge Review: Account grouping

This library uses the MindBridge Account Classification (MAC) code system.


MindBridge Review: Ratios

This library contains MindBridge’s 25 predefined ratios.


MindBridge Review: Filters

This library includes 16 predefined filters made to help you narrow your search results when viewing an engagement’s transactions in the Data table dashboard. MindBridge’s predefined for-profit filters fall into the following categories.

Additional Assurance filters

  • High Impact Order
  • MindBridge AI Journal Entry Testing
  • Unusual Transactions

Purchasing Cycle filters

  • Cost of Sale
  • Expenditure
  • Payroll Transaction
  • Repairs and Maintenance Review
 

Revenue filters

  • Reversed Revenue or Reversal of Revenue
  • Revenue
  • Other Income

Standard filters

  • Transactions near Analysis Period End
  • Transactions near Period End
  • Manual Transactions near Analysis Period End
  • Manual Transactions near Period End
  • Material Transactions near Analysis Period End
  • Material Transactions near Period End


MindBridge Review: Control points

This library contains MindBridge’s 29 rules-based, statistical, and machine learning control points.


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