Risk Insights – Steps to Mitigate Spreadsheet Risks

In a typical small or mid-size organization, hundreds of spreadsheets may be incorporated into planning and reporting processes. Financial reporting period closings can take much longer due to the effort required to verify or correct all of that spreadsheet-generated data. Consequently, closing delays and opportunities for inaccuracies also jeopardize the effectiveness of internal controls and, potentially, compliance with Section 404 of the Sarbanes-Oxley Act for public companies.

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