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Has your business ever had a spreadsheet health check?
A spreadsheet health check is particularly beneficial for organisations that regularly use complex spreadsheets or companies that use a high volume of excel spreadsheets in their financial reporting processes. Research regularly highlights the risks involved in spreadsheet use often relating to errors in one-off transaction models or forecasts; other times a broken spreadsheet may form a vital, and potentially weak, link in the chain of management information. Managing spreadsheet risk can help identify any potential errors and risks in the model.
What does the health check involve?
In order to highlight potential risk areas and provide simple recommendations for remedial actions, our team will:
- evaluate a given spreadsheet against generally accepted best practice principles and risk indicators;
- conduct a standard set of tests using review tools; and
- produce a key findings report using graphical analysis, charts and grids.
What are the benefits of a health check?
The health check provides an objective technical appraisal of spreadsheet risk. Benefits include:
- indicating the construction quality of a spreadsheet (highlighting complexity, structure and design issues);
- giving insight into the technical knowledge and skill of its author;
- identifying techniques and areas of risk with a given spreadsheet or model; and
- revealing the relative propensity of a spreadsheet to contain errors.
In summary, the health check gives a rigorous assessment of spreadsheet quality. While a poorly built spreadsheet is not necessarily wrong, it is more likely to be error-prone, cumbersome and/or costly to maintain and update. Our health check tool can help identify such issues and allow you to take remedial action.
