Financial Modelling Code

Financial Modelling Code

16 November 2018

Financial models are often built ad hoc or without due planning, care and attention, and stories of faulty financial models are common.

ICAEW has created this financial modelling code to provide essential guidance to standard-setters, procurers and modellers on good practice. The guidance is principles-based, high-level and broadly accepted.

The code is divided into the following sections:

  • Model definition and purpose.
  • Layout and structure.
  • User interface and transparency.
  • Consistency.
  • Clarity.
  • Error reduction.
  • Calculation techniques.