Pre-Engagement
True or False: You can set an opportunity to Won with a pending PACE.
FALSE
What is the tech fee amount?
4.5%
How do you access Engagement Economics?
Essentials for Engagements title on Mercury homepage or EY Reporting Hub link EY Reporting Hub link
EY Reporting Hub
How should you confirm payment terms before drafting an invoice?
Verify payment terms in SOW and MSA.
Who do you contact for any NextWin related issues?
Ben Sylvester
What is the typical term life of a standard MSA?
Five years
What are the conditions in dynamics that need to be met to release an engagement code?
PACE approved, opp moved to won, complete/active pricing plan
Assuming all previous conditions are met and approved, proceed to the following:
Click "Create Engagement" button in CRM
What documents should be uploaded to GEAR?
SOW, include any amendments, make sure to link to MSA
MSA - include any amendments
Also need to upload the IOMs, MOUs (EY Prime/Sub Documents)
How do you draft an invoice?
Once confirming fees and expenses with engagement team, click on Engagement Search Tile (or My Maintenance and Billings Tile), search engagement code, check box on left, select Billing, New Draft, proceed with drafting invoice
How do you request time off of work?
Confirm coverage with your backup, email your pod lead and counselor for approval.
Once approved, send calendar invites.
What is the difference between an MSA, SEL, and SOW?
MSA: Master Service Agreement, standard is good for five years, allows EY to enter into periods of statement of work with client.
SOW: Statement of Work, terms of engagement, fee of engagement, scope of work that will be done during engagement.
SEL: Single Engagement Letter, combines MSA and SOW into one document
How do you submit a Conflict Check?
Additional parties involved, services used, Conflict Check questionnaire questions answered - all of these must be filled out. You do not need to answer all PACE questions before submitting the Conflict Check
What does ETC stand for and what information do you need from the engagement to draft one?
ETC - estimate to complete
Need from engagement team: fees, make sure to ask about expenses, projected hours by person
Oh no! A finalized invoice was sent without the necessary PO number, and now needs to be updated, what do you do?
Go back to drafting an invoice, choose Invoice Maintenance
Highlight invoice needed to update, select Invoice Adjustment on bottom right corner, highlight reason for needing the invoice adjustment, proceed with re-drafting the invoice with missing information, i.e. PO number
Send draft for approval, proceed with re-finalizing once engagement team approves
What does an EYP Business Operations Professional do?
Assist with PPMD's admin process of sales forecast pipeline from pre to post engagement all while maintaining engagement economics.
What does DCL stand for and when is it needed?
Disclosure and Consent Letter
If the result indicates an audit client, it will almost always require a DCL (some exceptions if the audit is a foreign subsidiary). In some cases a non-audit client situation will also require a DCL (sell side services of the same deal).
The full conflict results memo, found in the PACE, should be saved to the opportunity folder. A DCL can be drafted ahead of the results if you know that the target is a Channel 1 (audit) client (see GFIS/GIS guide, here).
When do you set an opportunity to Won in CRM?
After confirmation from the engagement team, mark pricing plan complete and active, make sure PACE is approved. Executed SOW is best practice before marking an opp to Won, however there is a 30 day exception if good standing relationship with client to start work before signing SOW.
What are the specific drivers of the ETC indicator lights?
Green - no action required, no risk criteria is met
Yellow - attention needed, prepare ETC, Actual TER is 95% to >105% of Mercury Projected TER, ANSR Burn Rate Variance is +25% between Actual ANSR and Latest Plan (ETC-P/Budget) to Date ANSR
Red - ETC needed, Actual TER is >+105% of Mercury Projected TER, -5% variance between Mercury Projected Margin and Latest Plan Margin (ETC-P / Budget) value and percentage
How do you set up consolidated invoicing if more than one engagement code is being billed together?
Confirm with engagement team as to which code is "Lead BEI" for consolidated billing. Then go into each linked code, select the Lead BEI code for all linked codes. To confirm you have set up consolidated billing, you can search for the engagement code, see all of the engagements listed and see where the check mark is under Lead BEI.
What are each of the PODs and what do their acronyms stand for?
SSG - strategy
VME - valuation, modeling, economics
TD - transaction diligence
TSE - transaction strategy execution
What are the steps of New Client Acceptance?
1. Reach out to Bob Tainer for a Background Check
2. Add client entity into MDM for Data Validation
3. Make sure entity is in GIS
#1, #2, and #3 all to be done simultaneously
4. Completing New Client Acceptance via PACE
Who should you always include as a billing manager when opening a code?
Always include yourself and your EMS
Bonus *Include your backup if you're about to go OOO
What is a zero-impact ETC?
A zero-impact ETC maintains the same revenue recognition rate and EAF which allows the code to not have a write off or write up.
How do you archive an engagement?
Get up to date checklist, get access to where files are saved (server or Teams channel), verify with engagement team pertinent information from checklist, work with EMS to see what engagement team has and what is missing. Work with engagement team for missing documents. Make zip drive, follow prompts in ARC to upload.
Make sure you have PPMD's approval for archiving.
What is the difference between a Buddy, Peer Mentor, and Counselor?
Buddy - a colleague close in rank who will assist you with your transition into EY — through creating connections, answering questions, and sharing culture.
Peer Mentor - experienced colleague that will help you develop role relevant technical skills. They will support you throughout the entire Training and Onboarding Program providing hands-on learning experiences via shadowing/reverse shadowing opportunities and reviewing training exercises.
Counselor - an experienced professional who will support you throughout your career journey. You’ll meet regularly to discuss your career, development, and performance.