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Spreadsheet Auditing Cuts Risk
New technology from Compassoft audits and governs spreadsheets
by Mark Smith |
10/10/06 | Article ID: QT06-54 | Article Type: QuickTake
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Business Research: Business, Finance, Operational, Workforce
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Take
An epidemic of bad data is striking organizations, caused by errors in spreadsheets. Recent audits and data validity reviews by auditing firms have found that the use of spreadsheets by individuals raises serious questions of human error having been introduced into key financial processes. Compassoft offers a suite of software that can audit and validate spreadsheets and other end-user applications, offering a step toward bringing much-needed governance and review to spreadsheets. Ventana Research recognizes the ubiquity and utility of spreadsheets in organizations, but in the current environment management must invest in process improvements to protect itself. Auditing, governing and managing these risk-bearing applications should be at the top of every company’s to-do list. Organizations that are serious about rationalizing spreadsheets should examine whether Compassoft’s products can help them begin to understand and control this problem.
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