MKinsight™ is a powerful Audit Management Software System. This is where the User can manage the ongoing activities of the Audit Team on a day-to-day, week-to-week, month-to-month basis. This is where Audits can be both created either from the Plan, the Schedule
or just as Unplanned Audits. Once the Audits are underway their progress can also be viewed and monitored within MKinsight with easy to use, powerful Status and Search screens.
What is an Audit in MKInsight?
An Audit is an entity which can be planned, scheduled and managed throughout its life. Note: MKinsight date stamps all the main stages
of an Audit’s life (to facilitate some aspects of performance reporting)
An Audit can have a range of data and information which is broken down into different sections:
Section 1 – Key Audit Information
The first section includes a range of useful information including the Audit Status, Audit Opinion, Background and Audit Scope information and any Final Reports. In addition an unlimited number of free text fields can be added to store further information (see image 1).
Section 2 – Attached Documents
Includes attached documentation (other that the working papers themselves – see Section 5). You also have visibility of any documents stored in the relevant Permanent File (see image 2).
Section 3 – Key Dates / Milestones
Where you can create as many or as few Key Dates / Milestones as you want and you can call them whatever you want. These include Planned and Actual Dates that are then available directly within Performance Reports (see image 3).
Section 4 – Audit Team
Where you can identify each member of the Audit Team, including the Audit Manager, Lead Auditor and other Team members. The Audit Team can be created directly and, or fed from the Schedule (see image 4).
Section 5 – Audit Programs
Where you can identify which Work / Audit Programs should be completed at the planning stage along with the ability to see their progress throughout the Audit. Note: Work / Audit Programs in MKinsight are not just passive documents they are dynamic and can be scoped, analyzed and reported at all levels and at any stage (see image 5).
Section 6 - Checklists
Checklists can be created for use on any Audits – these are often used to support the Job Administration activities and allow uses to record a list of tasks, comments and if and when they have been completed (see image 6).
Section 7 – Budgets
Budgeted time to complete the Audit can be set for each member of the Audit Team. When setting the Budget the User can also see how much time was originally allocated in the Audit Plan created at the start of the year. Each member of the Audit Team can also be given a rate for the work they are about to perform so that the Audit can be costed if necessary (see image 7).
Section 8 - Performance
This section details the performance of the Audit Team by comparing Planned, Budgeted and Actual time. Along with a detailed analysis of all Planned and Actual Key Dates / Milestones. Free text fields are available for the Audit Manager to be able to record explanations for variances (see image 8) .
Section 9 – Recommendations
In order to facilitate easy visibility and management of Recommendations / Actions that have come out of any Audit Work, this section details any Recommendations that have been created during this and plus any open / outstanding Recommendations from any previous Audits at the same location (see image 9).