Authors
Eric Perry
Abstract
There have been many articles and mishaps published about the risks of uncontrolled spreadsheets in today's business environment, including non-compliance, operational risk, errors, and fraud all leading to significant loss events.
Spreadsheets fall into the realm of end user developed applications and are often absent the proper safeguards and controls an IT organization would enforce for enterprise applications. There is also an overall lack of software programming discipline enforced in how spreadsheets are developed.
However, before an organization can apply proper controls and discipline to critical spreadsheets, an accurate and living inventory of spreadsheets across the enterprise must be created, and all critical spreadsheets must be identified. As such, this paper proposes an automated approach to the initial stages of the spreadsheet management lifecycle - discovery, inventory and risk assessment.
Without the use of technology, these phases are often treated as a one-off project. By leveraging technology, they become a sustainable business process.
Sample
We surveyed senior finance and internal audit executives, asking about spreadsheet controls:
- 83% responded that it is very important to have the proper safeguards and controls for your organization's mission critical spreadsheets.
- But only 8% feel most organizations today have adequate spreadsheet controls in place.
Publication
2008, EuSpRIG
