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Development and Experimentation of a Software Tool for Identifying High Risk Spreadsheets for Auditing

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conference contribution
posted on 19.05.2022, 14:11 authored by Mahmood H. Shubbak, Simon Thorne

Heavy use of spreadsheets by organisations bears many potential risks such as errors, ambiguity, data loss, duplication, and fraud. In this paper these risks are briefly outlined along with their available mitigation methods such as: documentation, centralisation, auditing, and user training. However, because of the large quantities of spreadsheets used in organisations, applying these methods on all spreadsheets is impossible. This fact is considered as a deficiency in these methods, a gap which is addressed in this paper. In this paper a new software tool for managing spreadsheets and identifying the risk levels they include is proposed, developed and tested. As an add-in for Microsoft Excel application, ‘Risk Calculator’ can automatically collect and record spreadsheets properties in an inventory database and assign risk scores based on its importance, use, and complexity. Consequently, auditing processes can be targeted to high risk spreadsheets. Such a method saves time, effort, and money. 

History

Presented at

Conference paper published in Proceedings of the European Spreadsheets Risks Interest Group Conference on "Spreadsheet Risk Management"

Published in

16th European Spreadsheets Risks Interest Group Conference on "Spreadsheet Risk Management"

Publisher

European Spreadsheets Risks Interest Group

Version

AM (Accepted Manuscript)

Citation

Shubbak, M., Thorne, S., (2015), 'Development and Experimentation of a Software Tool for Identifying High Risk Spreadsheets for Auditing', Proceedings of the European Spreadsheets Risks Interest Group Conference on "Spreadsheet Risk Management", ICAEW, London, pp 31-53

ISBN

978-1-905404-52-0

Cardiff Met Affiliation

  • Cardiff School of Technologies

Copyright Holder

© The Publisher

Language

en