Spreadsheet Risk Factors
Inherent Risk Factors in Key Spreadsheets
By Jeff Robson
Spreadsheet auditing risk factors arise from many causes.
And, in any economic climate, there’s nothing more important time than ensuring nothing can undermine your company’s credibility!
From research performed by Access Analytic and others, here are a few of the key inherent risk factors that mean a spreadsheet may need to be reviewed:
- Will it be used by many people?
- Has it existed for a long time?
- Is it relied upon by senior management?
- Has it been modified by >1 person?
- Does it have a financial impact?
- Will the results be published externally?
If you have spreadsheets that tick more than two of the items above, you may like to consider having these reviewed by an independent third-party.
For more information including a Free Risk Assessment form, visit our Spreadsheet Auditing Resource.
Other Resources
Invest for Excel – financial modelling software