User developed spreadsheets and databases - often produced as workarounds - can quickly become embedded in business processes and crucial to the successful operation of an organisation.

Yet these business-critical applications are not owned by IT, and sit outside of the control environment - they are usually unsecure, untested, undocumented and not auditable.

Tales of relying on poor spreadsheets are legendary; Kodak, for example, re-stated their 2005 results by $9m after 'too many zeroes were added to an employee's accrued severance' when calculated on a spreadsheet.

Spreadsheets are likely to become ever more crucial in the current climate - eg being the platform for cash flow forecasts, loan covenant calculations etc - but they can easily be manipulated to hide the truth.

How DataConsulting can help

Our consultants have significant experience in building - as well as auditing and reviewing - business-critical spreadsheets.

We can give you confidence that your spreadsheets, databases and models operate as expected by:

• cataloguing, mapping and risk-rating all spreadsheets - to confirm the extent and criticality of spreadsheets in the business;
• bringing spreadsheets into the control environment;
• reviewing the design of models against good practice (including big-four audit standards);
• comparing the operation of models against business rules;
• identifying potential errors - such as hidden fields, white text and inconsistent formulae;
• documenting spreadsheets and the associated business rules; and
• independently re-perform the spreadsheets' operation.