Spreadsheets play a fundamental role in the management systems of organisations worldwide. Much of the key information used by businesses in decision-making and project management is underpinned by countless thousands of spreadsheets generated by many individuals throughout the organisation.
However many organisations are unaware that their corporate spreadsheets or models are not designed, maintained or controlled to a level which complies with international best-practice. Indeed poor spreadsheet modelling and human error in the design and control of spreadsheets can pose serious risks to a business.
Undetected flaws in spreadsheets give unreliable management information which can lead to unsound business decisions and lost revenue. Furthermore, uncontrolled and untested spreadsheets can leave an organisation open to fraud and tampering, as well as difficulties in demonstrating regulatory compliance.