Process Compliance & Business Process Audit

Process Discovery

Avoid time-consuming and resource-heavy process mapping that depends on inaccurate and biased subjective views from interviews.

Process Compliance

Assess compliance, test key controls such as segregation of duties, compare actual practices against the practices called for in law or policy.

Performance Analysis

Examine the effectiveness or efficiency. Analyze performance of individuals or entire departments. Identify the outcomes achieved.

Financial Analysis of Process

Track money flow within processes. Analyze and verify compliance in procurement, accounts payable or accounts receivable processes.

Operational Audit

Audit processes by mapping the actual operation of processes and compare this to the expected operation of processes or other assumptions. Assess compliance, outcome reliability, lead times, flexibility and effectiveness.

IT Audit

Test the general IT controls, such as testing authorizations: operating effectiveness versus design, undesirable combinations of roles and permissions and breaches of segregations of duties.

Cause Analysis

Implement automated process auditing focused on root-cause analysis, including business anomalies and trigger events.

Risk Assessment

Gain immediate insight into your risk assessment. Review Key processes by comparing them to designed processes, and see where deviations occur.

Scoping

Use Minit to gain insight into various key processes throughout a company, business unit per business unit, division by division, and to scope in higher risk areas into your audits.

Test the Design of Company’s Control Framework

Each financial statement audit requires a minimum assessment of the design of the control framework. Minit enables you to test the design of key processes.

Testing Controls

Each key process includes a number of specific controls designed to mitigate risk. Minit's filters help you to perform a detailed test of controls using 100% of the underlying transactions/events.

Segregation of Duties

Each framework is designed in a matter to ensure proper segregation in duties while processing transactions and carrying out activities. Use filters and stats to drill down into the process and uncover breaches.

Follow the Money

Follow the flow of money and map its footprint. Track high value and high-frequency transactions irrespective of use cases. Assess whether reported financial information (e.g., financial condition, results, and use of resources) is presented fairly.

Discover a process model without prior knowledge about it
Identify and immediately eliminate process waste
Uncover risk, fraud and control issues
Make sure compliance of both legal & internal company rules is achieved
Understand the socialization patterns and how people interact
System (ERP, SCM, CRM, BPMS) agnostic. No lock-in
Maximize the usage of data analytics tools such as ACL: instead of a sample, all events in a business process are evaluated
Clearly see the bottlenecks, the variants, and the efficient practices
Analyse a bypass and see who is involved and what the value of those cases is

Process Mining for Audit & Compliance

Data-driven Process Audit & Compliance

Process Discovery