Why implementing a financial modelling standard is hard

Why implementing a financial modelling standard is hard

16 February 2020

Modelers across the globe are beginning to recognise financial modeling as a profession.

Despite strong support for professional standards many modeling teams do not implement them rigorously and a suprising number of teams do not have consistent quality control systems in place.

Key conclusions from "2019 Financial Modeling Profession Survey":

  • 84% of modelers agree that financial modeling is a dynamic and innovative profession.
  • Errors in models remain common. 47% of respondents reported errors that were not picked up by internal review processes.
  • Most financial modelers are self-trained and rarely attend formal financial modeling training courses.