Related papers: Correctness is not enough
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…
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…
A common application of spreadsheets is the development of models that deliver projections of the future financial statements of companies established to pursue ventures that are subject to project financing. A survey of 11 such…
The paper presents two complementary strategies for identifying errors in spreadsheet programs. The strategies presented are grounded on the assumption that spreadsheets are software, albeit of a different nature than conventional…
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,…
The use of spreadsheets is widespread. Be it in business, finance, engineering or other areas, spreadsheets are created for their flexibility and ease to quickly model a problem. Very often they evolve from simple prototypes to…
Errors in spreadsheet applications and models are alarmingly common (some authorities, with justification cite spreadsheets containing errors as the norm rather than the exception). Faced with this body of evidence, the auditor can be faced…
The use of uncontrolled financial spreadsheets can expose organizations to unacceptable business and compliance risks, including errors in the financial reporting process, spreadsheet misuse and fraud, or even significant operational…
Spreadsheet audit and review procedures are an essential part of almost all City of London financial transactions. Structured processes are used to discover errors in large financial spreadsheets underpinning major transactions of all…
This paper describes a framework for a systematic classification of spreadsheet errors. This classification or taxonomy of errors is aimed at facilitating analysis and comprehension of the different types of spreadsheet errors. The taxonomy…
There is an overlooked iceberg of problems in end user computing. Spreadsheets are developed by people who are very skilled in their main job function, be it finance, procurement, or production planning, but often have had no formal…
The hard coding of input data or constants into spreadsheet formulas is widely recognised as poor spreadsheet model design. However, the importance of avoiding such practice appears to be underestimated perhaps in light of the lack of…
Heavy use of spreadsheets by organisations bears many potential risks such as errors, ambiguity, data loss, duplication, and fraud. In this paper these risks are briefly outlined along with their available mitigation methods such as:…
Spreadsheets are software programs which are typically created by end-users and often used for business-critical tasks. Many studies indicate that errors in spreadsheets are very common. Thus, a number of vendors offer auditing tools which…
A review of 75 formal audit assignments shows that the effort taken to identify defects in financial models taken from the domain of limited recourse (project) finance is uncorrelated with common measures of the physical characteristics of…
Research on spreadsheet errors began over fifteen years ago. During that time, there has been ample evidence demonstrating that spreadsheet errors are common and nontrivial. Quite simply, spreadsheet error rates are comparable to error…
Spreadsheets are ubiquitous in business with the financial sector particularly heavily reliant on the technology. It is known that the level of spreadsheet error can be high and that it is often necessary to review spreadsheets based on a…
Spreadsheet users regularly deal with uncertainty in their data, for example due to errors and estimates. While an insight into data uncertainty can help in making better informed decisions, prior research suggests that people often use…
Students learning how to apply spreadsheets to accounting problems are not always well served by the built-in financial functions. Problems can arise because of differences between UK and US practice, through anomalies in the functions…
Human error research on overconfidence supports the benefits of early visibility of defects and disciplined development. If risk to the enterprise is to be reduced, individuals need to become aware of the reality of the quality of their…