1. Ongoing Feedback Review
FY14 Ongoing Feedback - MTS YE Audit -- Anderson, Eric M
Reviewee Information
Reviewee: Anderson, Eric M Client/Project: MTS YE Audit
Counselor: Johnson, Jefferson Hours: 206.3
Reviewer: Worsham, Laura D. 2nd Level Reviewer: Jain, Sachin
Project Role:
Picking up supplies from the office, Expense testing, Confirmations tracking, Preparing and mailing confirmations, Cash testing, Ordering/picking up
dinner, Labor and OH standard cost testing, Accounts payable testing, Alternative procedures for A/R confirms, Discussing follow-up questions with the
client, Setting up SOX workpapers and performing related testing, Scanning documents, Tying out workpapers to the Trial Balance.
Linked Engagements
Engagement Name Client Name Engagement Code
A 12/31/13 Audit and Quarters Omnicell, Inc. 16842771
Average Difficulty:
Moderate
Competency Ratings
People:
Quality:
Growth:
Operational
Excellence:
Did not meet expectations Met certain expectations
Met all expectations
compared to relevant
peer group
Exceeded expectations
compared to relevant
peer group
Significantly exceeded
expectations compared
to relevant peer group
Performance Summary
BACKGROUND: Omnicell, Inc. is a public company based out of Mountain View, CA. Eric was part of the audit team for Omnicell's subsidiary MTS
Medication Technologies (acquired in 2012). Operations at MTS are relatively standard and non-complex. However, we have evaluated this
engagement difficulty as moderate as this is only the second year audit of MTS (therefore lack of prior year understanding) and as this is the first year
SOX audit of MTS. Due to limited staffing on the engagement, Eric performed significant section work, including substantive procedures over Accounts
Payable, cash, expenses, and AR as well as 404 procedures over FSCP, Fixed Assets, Procure to Pay, Capitalized Software, and Prepaids/Intangible
Assets.
ENGAGEMENT DIFFICULTY: Moderate
ROLE: This review covers Eric's role as an Intern on the Omnicell, Inc.'s 2013 Year-end Audit.
People - 3 (fully met expectations)
Eric contributed to a positive team environment by demonstrating team commitment and willingness to help whenever possible.
o Demonstrated willingness to perform less glamorous tasks such as pick up dinner, scan/fax documents, and follow up on confirmations with a
positive attitude.
o Reached out to Senior for a new project any time he reached a stopping point.
o Communicated with senior after no longer on site (i.e. followed up remotely). Demonstrated ability to be proactive.
Built positive relationships with key client contacts by demonstrating understanding of sections and amicable personality.
o Communicated with multiple client contacts for both 404 and substantive areas to follow up on questions. Typically not areas interns have tons of
opportunities in; demonstrated respect for the clients time and understanding of sections in these meetings.
Market Leadership & Growth - 3 (Fully met expectations)
Due to the nature of Eric's role as an Intern and his limited experience with EY, there have been few opportunities for him to demonstrate skills in
Market Leadership & Growth. Some skills Eric did demonstrate:
o Ability to leverage GAAIT to locate forms/templates for use in the audit.
o Demonstrate the ability to learn quickly
o Quickly became familiar with GAMx and was able to navigate it effectively
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2. o Understood the purpose/procedures behind a task quickly. Rarely did the senior have to give the same review note twice. For example, when
discussing new EY guidance on testing controls & substantive procedures, the senior discussed the key procedures used to test (inquiry, inspection,
observation, and reperformance). Eric took this discussion and adapted his documentation to ensure it meets EY quality standards. In this he further
demonstrates an understanding of the EY audit methodology that exceeds that of other members of his relevant peer class.
Quality- 5 (Significantly exceeded expectations)
Consistently delivered high-quality work papers with limited supervision; worked on complex areas and consistently produced high quality deliverables.
o As mentioned in the Background section above, Eric completed the Phase 2 SOX testing on multiple sections for MTS. This is a first year SOX audit,
therefore there were no prior period workpapers to use as an example. There was significant executive focus on the quality of testing and
documentation in 404 in current year due to increased regulatory and inspection activities.
• Eric demonstrated his ability to understand the control in question, evaluate the sufficiency of the support, ask relevant questions to the client, and
document his work in a clear manner; his efforts in this area exceed the expectations of those in his peer class.
• Eric was able to demonstrate his comprehension of our audit documentation standards by carrying through initial review comments on one area of
work (FSCP) through to his other controls testing documentation to ensure consistency in quality of his deliverables. Also, he was able to reflect on the
required documentation and point out to his senior places where he believed client evidence provided may be insufficient based on earlier comments
provided.
o Documented tickmark explanations in a clear and concise manner with only brief explanations from the senior. Quickly grasped the purpose of a
procedure and completed documentation to communicate this.
o Accurately identified problems and exceptions. Appropriately escalated problems to supervisor. Was able to clearly communicate/articulate potential
issues.
• Explained potential issues in SURL testing to the senior after the senior left the Tampa location. Even through phone call and without support present,
Eric was able to articulate the potential exceptions to the senior and the client's explanations. Given the limited experience Eric has, this exceeded our
expectations.
• Communicated flagged issues on Expense Testing as well as SURL testing to the senior and then to the Assistant Controller of MTS in a clear
manner. Despite limited experience, Eric was willing to attend and speak up in the client meeting to discuss exceptions we flagged. Was able to answer
follow up questions from both the senior and client promptly, demonstrating an understanding and familiarity of the sections he was assigned.
• Identified several errors in Expense sample testing (inappropriately included some 2012 charges in 2013 expenses), SURL testing (several 2013
liabilities were not accrued as of 12/31/2013), and AR Confirmation alternative procedures (some items in which payment was made before year-end
but the AR balance was still included in AR at year-end).
• In all cases Eric identified the potential issue and immediately raised the items to the senior's attention. In almost all cases, these questions were then
followed up with the client to obtain an explanation of the unusual items. In a couple of these cases, there was a true issue that Eric documented as
such in the workpapers; although none of these errors were above the nominal posting level, Eric's attention to detail and timely follow up allowed the
team to investigate the error and verify it did not prevent a more serious/robust issue. This ability to identify items that require more urgent follow up
impressed the senior and significantly exceeds our expectations of an Intern.
o Eric repeatedly produced work of high quality with limited instruction from the senior. Documented work in a manner that required minimal review
notes and for which it was clear what open items were still being followed up with the client on. Having only a couple of weeks of experience, Eric's
attention to detail and documentation highly impressed the senior.
• Documented detailed expense testing (over 60 samples) after only a brief explanation from the senior. Flagged items for follow up (see section above)
and ensured all other documentation was up to EY standards. Performed similar procedures of SURL, AP, and AR Confirmations/Alternative
Procedures.
• Performed Payroll analytical procedures and payroll reconciliation and documented the steps behind; these procedures require very clear
documentation. Eric's work required minimal review notes and only initial explanations from the seniors.
• In performing cash testing, identified some checks that were marked as "Cleared" in the December 2013 bank statement but still showed up on the
Outstanding Checks in the reconciliation. As a result of Eric's testing, we followed up with the Company on this and gained an understanding of their
"Positive Pay" system with their bank (in which checks not approved by the Company will show as cleared but also backed out if the Company does not
approve the check as a valid check)
• Eric clearly documented this understanding in the Cash workbook so that we can carry forward this understanding to our next year workpapers.
Managed multiple sections assigned to him
o Due to limited staffing on the engagement Eric was one of 2 team members, aside from the senior, responsible for preparing the majority of section
work. Although Eric had many sections assigned to them, and some of them were ongoing throughout (e.g. following up on AR confirmations and
performing SURL testing), Eric approached the workload calmly. Eric discussed tasks assigned with the senior to identify items of priority. Additionally,
Eric proactively reached out to the senior regarding a section if it had not been addressed for some time. One particular example of this pertains to AR
Confirmations. Eric sent out all AR Confirmations and continued to receive responses and update documentation (both for confirmations and alternative
procedures) even after the time he was rolling off the engagement. This exceeded our expectations of the abilities and responsibility of an intern.
On-the-Job Coaching
Given Eric's role and that he has only been with EY for a short period of time, he has had limited opportunities for on the job coaching.
Future Development
Taking into consideration Eric's performance meets or exceeds expectations, we encourage Eric to continue to be proactive and seek out opportunities
to develop his technical knowledge and knowledge of EY GAM. We also encourage Eric to pursue opportunities to expand his knowledge of the client
by getting to understand the nature of the business as well as how it fits in with the parent.
Acknowledgments
Name Signature Date
Reviewer Worsham, Laura D. ELECTRONIC 3/5/2014
2nd Level Reviewer Jain, Sachin ELECTRONIC 3/5/2014
comments: Thanks Eric for your support and dedicated efforts in completing the MTS audit. Looking forward to work with you again.
Reviewee Anderson, Eric M
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