Related papers: Spreadsheet Risk - A New Direction for HMRC?
The first fully-documented study into the quantitative impact of errors in operational spreadsheets identified an interesting anomaly. One of the five participating organisations involved in the study contributed a set of five spreadsheets…
Spreadsheets are widely used in industry, even for critical business processes. This implies the need for proper risk assessment in spreadsheets to evaluate the reliability and validity of the spreadsheet's outcome. As related research has…
The traditional approach to spreadsheet auditing generally consists of auditing every distinct formula within a spreadsheet. Although tools are developed to support auditors during this process, the approach is still very time consuming and…
One of the problems reported by researchers and auditors in the field of spreadsheet risks is that of getting and keeping managements attention to the problem. Since 1996, the Information Systems Audit & Control Foundation and the IT…
Past research shows that spreadsheet models are prone to such a high frequency of errors and data security implications that the risk management of spreadsheet development and spreadsheet use is of great importance to both industry and…
Amongst the large number of write-and-throw-away spreadsheets developed for one-time use there is a rather neglected proportion of spreadsheets that are huge, periodically used, and submitted to regular update-cycles like any conventionally…
Much of what EuSpRIG discusses is concerned with the integrity of individual spreadsheets. In businesses, interlocking spreadsheets are regularly used to fill functional gaps in core administrative systems. The growth and deployment of such…
We present Risk Integrated's Enterprise Spreadsheet Platform (ESP), a technical approach to the near-elimination of spreadsheet risk in the enterprise computing environment, whilst maintaining the full flexibility of spreadsheets for…
The Sarbanes-Oxley Act of 2002 has finally forced corporations to examine the validity of their spreadsheets. They are beginning to understand the spreadsheet error literature, including what it tells them about the need for comprehensive…
Thanks to the enormous flexibility they provide, spreadsheets are considered a priceless blessing by many end-users. Many spreadsheets, however, contain errors which can lead to severe consequences in some cases. To manage these risks,…
This paper explores the impacts of spreadsheets on business operations in a water utility parastatal in Malawi, Sub-Saharan Africa. The organisation is a typical example of a semi-government body operating in a technologically…
Because spreadsheets have a large and growing importance in real-world work, their contents need to be controlled and validated. Generally spreadsheets have been difficult to verify, since data and executable information are stored…
A new MS Excel application has been developed which seeks to reduce the risks associated with the development, operation and auditing of Excel spreadsheets. FormulaDataSleuth provides a means of checking spreadsheet formulas and data as…
Research on formulae production in spreadsheets has established the practice as high risk yet unrecognised as such by industry. There are numerous software applications that are designed to audit formulae and find errors. However these are…
Spreadsheets have been with us in their present form for over a quarter of a century. We have become so used to them that we forget that we are using them at all. It may serve us well to stand back for a moment to review where, when and how…
Within Lloyds Banking Group the heritage HBOS Corporate division deals with Corporate loans, and is required to assess these loans for risk in accordance with the Basle Accord regulations. Statistical Risk Rating models are developed by the…
Spreadsheet technology is a cornerstone of IT systems in most organisations. It is often the glue that binds more structured transaction-based systems together. Financial operations are a case in point where spreadsheets fill the gaps left…
Spreadsheets are ubiquitous, heavily relied on throughout vast swathes of finance, commerce, industry, academia and Government. They are also acknowledged to be extraordinarily and unacceptably prone to error. If these two points are…
Recent research has highlighted the high incidence of errors in spreadsheet models used in industry. In an attempt to reduce the incidence of such errors, a teaching approach has been devised which aids students to reduce their likelihood…
A huge amount of data is everyday managed in large organizations in many critical business sectors with the support of spreadsheet applications. The process of elaborating spreadsheet data is often performed in a distributed, collaborative…