How do you protect your company’s spreadsheets?
November 21, 2008 by Jennifer AzaraPosted in: Benchmarking, Communication tips, Efficiency, In this week's e-newsletter, Internal controls, Latest news & views, Management issues
We know they’re not perfect, but those rows and columns are the lifeblood of most finance shops.
So what is your company doing to guard against errors?
Here’s what’s scary: Only 41% of companies say they consider spreadsheet risk as part of their official risk management processes and decision-making. That’s the wake-up call from Deloitte and Touche LLP.
So what specifically are companies doing to ensure their spreadsheets are as accurate and protected as possible? Compare your company’s current plan of attack against what your peers are reporting:
Unless you’re in the top third of organizations with a well-defined plan, you’ll probably want to huddle with finance supervisors and IT to come up with some concrete steps that can be enforced consistently company-wide.
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Tags: Company spreadsheets, Deloitte, Errors, Finance supervisors, Risk management processes, Touche LLP
