MKinsight Audit Management System

mkinsight audit management system

Trusted by Companies, Governments and Individuals Worldwide

MKinsight™ is a comprehensive, highly configurable, powerful and easy to use Audit Management System.

"From individual auditors to State Audit Institutions MKinsight™ is easy to use, straight forward to implement and affordable whatever the size of your audit team."

Key Features

Seamlessly Integrated Single Database

MKinsight is a fully integrated system working from one SQL Server database for all functionality – making day to day work and reporting simple and seamless.

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Web Enabled with Off-Line Working

MKinsight is unique in the way it harnesses the efficiency of web based .Net functionality whilst enabling seamless offline working.

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Fully Configurable Terminology and Workflow

In addition to highly flexible functionality ALL terminology is fully configurable in MKinsight.

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Complete Encrypted Data Security

All off-line data (included attached / embedded documents) are held in a fully encrypted format guaranteeing data security at all times, also all data transmissions are fully encrypted.

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Exceptional User Interface

MKinsight is repeatedly selected for its up to date, easy to use and pleasing on the eye User interface which makes full use of the current programming capabilities of .Net.

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Role Based Privileges

Visible and usable functionality fully tailored based on a comprehensive Role based privilege system.

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Unique Scoring And Trend Analysis

MKinsight provides a unique facility to automatically enable the audit team to see the emerging trend in audit results to aid in the understanding as whether or not the control environment is getting stronger or weaker over time.

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Robust Development Programme

Committed and successful track record in delivering User Group requests for expansion to functionality across the system.

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Multi-Language

With MKinsight’s global expansion it is a multi-language system with English(UK), English(US), French, French(Can), Spanish, German, Portuguese, Arabic, Russian and Indonesian already available – additional languages can be made available with just 3 weeks notice.

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Secure Hosted and Self-Hosted options

MKinsight is available as a fully hosted solution, utilized by both our Government and Commercial clients around the world. We use our own dedicated, co-located data centres to ensure a fully secure service with comprehensive business continuity and disaster recovery mechanisms in place.

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Enterprise Risk Management Integration

MKinsight has a fully integrated Enterprise Risk Management System built in which allows Risk Managers and the Audit Team to work seamlessly alongside one another.

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New MKinsight Subscription Service

Specifically designed for individuals and small teams MKinsight’s Subscription Service can be made available through our fully secure hosting facilities at an all inclusive monthly rate.

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Active Directory Integration

MKinsight is available with complete Active Directory Integration.

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"MKinsight is available to teams both large and small across the World via flexible pricing models which include our groundbreaking full Subscription Service which has been specifically aimed at individuals and small teams who can have full access to MKinsight for a small monthly subscription fee"

Key Functionality

Risk Based Annual Planning

In Annual Planning Users can develop any number of Annual Plans over any time horizon, be it 12 months, 3 years or just the next quarter. All Annual Plans created in MKinsight can then be used to generate Performance Reports which compare any chosen Audit Plan with what has actually happened during that period.

Annual Planning begins with the creation of an Audit Universe which can have an unlimited number of levels and an unlimted number of Audit Entities which may be processes, special investigations etc. Each level and entity in the Audit Universe can be fully Risk Assessed using a set of User defined, weighted, Criteria which can include, for example, any Risks from the Risk Register and Historic Audit Results.

Audit Scheduling

MKinsight has a powerful Scheduling system that allows Audits within an Annual Plan to be scheduled over any time horizon. The Scheduling system makes use of drag and drop Gantt charts to allocate Audits over a defined Period . Members of the Audit Team can then be allocated to each Audit (perhaps having been selected from the information in their Electronic CV e.g. language skills etc).

MKinsight automatically shows any conflicts for each member of the Audit Team (note: individual Audit Team members can be booked over varying periods and not just the period indicated for the whole Audit to accommodate situations where a planning phase may take several weeks before fieldwork commences).

Audit Management

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 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 Performance Reports, 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 various aspects of performance reporting).

Performance Reporting

In addition to Performance Reporting for each individual Audit, MKinsight has a a comprehensive Performance Reporting capability to enable Users to compare the Performance of either all or part of the Audit Team against all or part of any Annual Plan within the system.

Performance Reports can be generated monthly, quarterly, or an ad hoc basis. They can be printed directly and, or exported directly to Excel (as is the case throughout MKinsight).

Electronic Working Papers

MKinsight has a very comprehensive electronic working papers capability which includes the ability to Create Audit / Work Program Templates; Record work done / findings / issues / recommendations throughout; All free text fields include “Word” functionality such as Bold, Italic, Alignment etc plus full spell check facilities in any language; Attach and embed any electronic evidence to support the work you have done etc.

Enterprise Risk Management

MKinsight™ has a very comprehensive Enterprise Risk Management (ERM) capability which can be used to enter, assess and manage the Enterprise level risks an organization faces. In many cases this capability is in use within dedicated risk teams, in other cases Audit teams use it to record Enterprise level risks to aid and facilitate risk based Annual Planning, and in other cases the two disciplines work alongside one another within MKinsight™.

Time & Expense Recording

MKinsight provides comprehensive Time and Expenses Recording capabilities with the facility for Users to complete weekly timesheets. Time and Expenses can be recorded against either Audits or Non Audit activities such as travel, training, sickness etc.

The list of Non Audit codes is fully definable within MKinsight which provides for an unlimited list of Non Audit Codes. Individual Non Audit activities can also be given a special status which requires the User to enter an explanation as to why they used that activity. Time can be recorded in either hours and minutes or decimalized hours and there is flexi-time capability which is optional and can be turned off if not required.

Recommendation / Action Tracking

MKinsight has a fully integrated Action / Recommendation tracking system. For example, when an Action / Recommendation is created within the Electronic Working Papers it is, at the end of the audit, automatically transferred into the Action / Recommendation Tracking system. This eliminates any need for copy / pasting etc.

The life of an Action / Recommendation is mutually exclusive from that of the Audit. Even when an Audit is completed in MKinsight the Actions / Recommendations live on making continuous / timely follow-up simple and straight forward.

On-line Questionnaires

MKinsight allows the User to develop Questionnaire templates
(of any type) that can be issued to individuals via an email request. When the respondent receives the email it includes a User defined request for their help in completing the questionnaire and at the bottom there is an encrypted hyperlink. They click on the hyperlink. They click on the hyperlink, it opens up their browser, and they can complete the questionnaire directly on-line.

These questionnaires can be used for Control Self Assessment Questionnaires, Satisfaction Questionnaires, Research Questionnaires, or any other purpose.

Comprehensive Reporting

MKinsight has very comprehensive reporting capability which includes

  • Templated Reports
    The User, and or Morgan Kai, can develop report templates that make use of any data fields within MKinsight (including Meta Data).
  • Graphical Reports
    MKinsight provides Users with a whole range of graphical reports which are capable of being filtered in many different ways to enable the identification of emerging trends etc.
  • Section Specific Reports
    MKinsight has an increasing array of reporting capabilities for each section of the application with a series of predetermined reports that have been designed based on the feedback of Users groups over a number of years.

Libraries

MKinsight allows users to create an on-line library of any electronic documents. These documents can then, at the choice of each individual User, be synchronized to the Users local machine so that these documents can then be available off-line when the auditor is out in the field.

Note: these documents are nothing to do with the working papers on Audits which are taken care of separately in the Audit Management section – they are typically reference materials such as policies, procedures, legislation, regulations or anything else that an auditor might need to refer back to when out in the field.

MKinsight Subscription Service

In response to demand across the industry Morgan Kai launched, in January 2010, its new and unique MKinsight Subscription Service.

Aimed specifically at individuals and small teams the MKinsight Subscription Service gives full access to MKinsight without the large initial cost that has typified the approach taken by traditional vendors. This therefore enables individuals and small teams to enjoy the following Service Features such as Access to full MKinsight functionality, Full secure hosting service, Zero capital outlay, Zero investment in SQL Service Databases and Web Servers, Comprehensive training, Full system support and maintenance, Full help desk support, and Full access to new versions of MKinsight.

"MKinsight™ was conceived as a fully integrated Audit and Risk Management system with the Risk side informing Audit at the Annual Planning stage and Audit informing Risk Owners based on actual test results."

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MKinsight Audit Management System Clients