Introduction to EY Canvas

EY canvas independence: Plan

EY Canvas requires all team members who are invited to your engagement to complete annual audit engagement independence inquiries prior to accessing the engagement.

GAM

Global Audit Methodology

PPEDD

Partner in charge, Engagement Partner, or Executive Director

EY Canvas Dashboard: My engagement summary

shows: - My tasks - My review notes - My collaboration

EY canvas independence: Execute

- Team members complete annual audit engagement independence inquiries directly in EY Canvas. - EY Canvas tracks the status of responses by team member in a smart evidence summary.

EY Canvas

- A global web-based engagement project management platform, designed and built to enable you to execute engagements effectively and efficiently with your team. - Primary aim is to help teams have a better focus on risks, improve project management and team collaboration by driving completion of the right tasks, at the right time and by the right person. - Platform with built-in functionality to enable EY Digital Audit. - Enables all audit teams globally to conduct audits in accordance with EY GAM. The tool is scalable and can be used for audits of all sizes within any industry.

EY canvas independence: Resolve

- EY Canvas creates validation checks to identify potential independence matters for timely executive resolution. You can learn more about validation checks later in the course. - EY Canvas prevents employees with potential independence matters and independence exceptions from working on the engagement, signing off on evidence, etc.

EY canvas independence: Reconcile

- EY canvas creates validation checks to identify non-respondents for easy resolution - You are still advised to reconcile the responses received against your final engagement record of tine changed.

Options Cog

- Edit engagement - Edit workspace - Manage team - Remove engagement - Delete engagement - Override archive deadline date

EY Canvas winning behaviors

- Increased focus on risks - Improved project management through facilitation of timely supervision and review. - Improved team collaboration - Increased interactions with clients

By the end of this course, you will be able to:

- Perform the basic functionalities of EY Canvas - Identify the resources available and how to use them

EY Canvas Dashboard: All engagement summary

- the number of tasks by section - the number of open review notes - the task status by time phase which is a project management feature. It allows teams to allocate tasks to different due dates to help track the progress of an engagement.

What is EY Canvas?

By the end of this lesson, you will be able to: - Identify what EY Canvas is and how to access it - Identify what EY Canvas Independence is and how to use it - Understand how EY Canvas ties into our methodology

EY Canvas Dashboard: Documents

Contains a list of all evidence in the engagement. The engagement evidence is displayed by: - Evidence — all current year evidence attached in the engagement - Temporary files — current year evidence that has not been associated to a task - Prior Period Evidence — when we create a new engagement from a previously archived engagement, teams will see Prior Period Evidence which will be linked to each task in the evidence section of the task details - External Documents - documents obtained from the external parties (e.g., clients) - Conflicts - documents with unresolved conflicts - Recently Deleted - documents which have been recently deleted