Controls To Mitigate Spreadsheet Risk

Financial business processes run on spreadsheets. The widespread usage of spreadsheets should cause concern for all enterprises. The ability to discover, assess, and control spreadsheets, however, greatly mitigates their risk and drives enterprises to consider one of several IT solutions for this problem. Effective processes associated with spreadsheet control and risk mitigations need to cross all financial functions and address auditors' concerns. Implementing the correct procedures around spreadsheet controls will create the necessary working framework to allow the continued usage of spreadsheets while lessening audit issues and financial compliance requirements.