Introduction to EY Canvas Flashcards

Questions and Answers

What can you perform with EY Canvas?

Only collaborate with clients

Create complex software projects

Basic functionalities of EY Canvas (correct)

Analyze market trends

What is EY Canvas?

A global web-based engagement project management platform.

What are EY Canvas winning behaviors?

Increased interactions with clients (correct)

Improved project management (correct)

Reduced interaction with clients

Increased focus on marketing

What are some functionalities of the Options Cog?

Edit engagement Signup and view all the answers

EY Canvas requires team members to complete annual audit engagement independence inquiries before accessing the engagement.

True Signup and view all the answers

What does EY Canvas track during engagement independence inquiries?

The status of responses by team members. Signup and view all the answers

What does EY Canvas do to identify potential independence matters?

Creates validation checks. Signup and view all the answers

What does the EY Canvas Dashboard: Documents contain?

List of all evidence in the engagement Signup and view all the answers

What does the EY Canvas Dashboard: My engagement summary show?

My tasks, my review notes, my collaboration Signup and view all the answers

Match the following terms with their definitions:

PPEDD = Partner in charge, Engagement Partner, or Executive Director GAM = Global Audit Methodology EY Canvas independence: Plan = Requires annual audit engagement independence inquiries EY Canvas independence: Execute = Team members complete independence inquiries directly in EY Canvas Signup and view all the answers

Study Notes

EY Canvas Overview

EY Canvas is a global web-based engagement project management platform aimed at enhancing team efficiency and effectiveness.
The platform focuses on improving project management, team collaboration, and risk management by ensuring tasks are completed correctly and promptly.

Key Functionalities

Basic functionalities of EY Canvas include editing engagements and managing team settings.
Features include editing workspaces and removing or deleting engagements, as well as overriding archive deadlines.

Importance of Independence

All team members must complete annual audit engagement independence inquiries before accessing the engagement.
EY Canvas tracks the status of these inquiries and identifies potential independence issues through validation checks.

Winning Behaviors

EY Canvas promotes behaviors that focus on increased risk management, project management, team collaboration, and enhanced client interactions.

Dashboard Features

Documents Section: Displays all evidence related to the engagement, including current year evidence, temporary files, prior period evidence, external documents, unresolved conflicts, and recently deleted documents.
My Engagement Summary: Provides an overview of individual tasks, review notes, and collaboration activities.
All Engagement Summary: Summarizes tasks by section, counts open review notes, and tracks task status by time phase for effective project management.

Concepts and Acronyms

PPEDD: Refers to the roles of Partner in charge, Engagement Partner, or Executive Director.
GAM: Stands for Global Audit Methodology, which guides audit processes within EY Canvas.

Description

This quiz focuses on the fundamental concepts of EY Canvas. By engaging with these flashcards, learners will be equipped to perform essential functionalities and understand the resources available within EY Canvas. Ideal for those beginning their journey with this tool.