Recent Articles
Explore Article (Mar 14 2012)
A new South Wales Financial Audit has turned up hundreds of spreadsheet errors worth Billions of Australian Dollars. Errors range from data entry (mechanical errors) to misapplication of accounting rules (logical (Read Full Article)
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Norges Bank Corrects Rate Path, Aug. Hike Even Surer
Explore Article (Jul 05 2011)
This Reuters article provides an update regarding Norway's Central Bank's correction of its interest rate path projection and showcases the impact that a spreadsheet error can cause. The original spreadsheet showed a 60 (Read Full Article)
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Explore Article The Institute of Internal Auditors (IIA) (Aug 18 2010)
Almost every organization uses some form of UDAs because they can be more easily developed, are less costly to produce, and can typically be changed with relative ease versus programs and reports developed by IT personnel. (Read Full Article)
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Solvency II
Countdown to Solvency II: Managing Spreadsheet Risk
Explore Article (Jan 25 2012)
Under Solvency, spreadsheets could prove to be especially useful in providing cost-effective and relatively easy to use solutions in areas such as data collation, data transformation and the analysis supporting expert (Read Full Article)
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Countdown to Solvency II: Getting the Balance Right
Explore Article (Jan 25 2012)
In this article, PwC discusses the how to provide the right kind of documentation to demonstrate compliance with Solvency II without creating an excessive amount of (Read Full Article)
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Countdown to Solvency II: Risk of Delay: Getting Pillar 3 on track
Explore Article (Jan 25 2012)
In this article, PwC discusses the need to recognize the urgency of preparing for Solvency II's Pillar 3 as well and assessing the challenges and accelerating preparations for Pillar 3 (Read Full Article)
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Model Audit Rule
Implementation Guide for the Model Audit Rule
Explore Article naic.org (Jan 04 2009)
The new requirements within the Annual Financial Reporting Model Regulation related to auditor independence, corporate governance and internal control over financial reporting are proposed to become effective in 2010. The (Read Full Article)
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Deloitte - The Model Audit Rule Deadline Is Coming: Are You Ready?
Explore Article Home (Nov 15 2009)
Over the last five years of the Sarbanes-Oxley era, the National Association of Insurance Commissioners (NAIC) has reviewed and modified regulations and has adopted revisions to the Annual Financial Reporting Model (Read Full Article)
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Sarbanes Oxley Compliance
The State of Sarbanes-Oxley Compliance According to Protiviti
Explore Article (Jul 05 2011)
In this Forbes article, Protiviti, an independent global risk and internal audit advisiory firm discusses the results of its annual client attitude survey about the costs, benefits and compliance with (Read Full Article)
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PCAOB - Report on the First Year Implementation of Auditing Standard 5
Explore Article PCAOB.com (Dec 07 2009)
This report describes the most common or noteworthy observations that werederived from inspections conducted during 2008 regarding registered audit firms' first yearimplementation of the Board's standard governing integrated (Read Full Article)
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PwC - The Use of Spreadsheets: Considerations for Section 404 of the Sarbanes-Oxley Act
Explore Article Welcome to AuditSoftware.net (Dec 10 2009)
Many companies rely on spreadsheets as a key tool in their fi nancial reporting and operational processes. As a result, the use of spreadsheets is an integral part of the information and decision-making framework for these (Read Full Article)
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Fraud
IIA Offers Fraud Guidance for Internal Auditors
Explore Article Compliance Week (Jan 08 2010)
In light of the economic crisis, internal auditors are under pressure like never before to help protect the mothership from fraud. They might find some new guidance from the Institute of Internal Auditors useful in meeting the (Read Full Article)
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As Internal Audit Staffs Shrink, Will Fraud Rise?
Explore Article CFO.com (Dec 14 2009)
Few corporate departments have been spared layoffs in recent months, and internal audit and compliance are no exceptions. According to a new poll by Deloitte Financial Advisory Services, 27% of executives reported reductions in (Read Full Article)
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White Papers
CIMCON - The Problem with Spreadsheets
Explore Article Sarbanes (Dec 16 2009)
White Paper from CIMCON Software on the problems with spreadsheets. Includes several interesting case studies relating to spreadsheet (Read Full Article)
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Strengthening Enterprise Risk Management for Strategic Advantage
Explore Article The Institute of Internal Auditors (IIA) (Nov 17 2009)
The recent financial crisis is leading to renewed focus on how senior executives approach risk management and the role of their boards of directors in risk oversight. COSO is issuing this thought paper to foster dialogue among (Read Full Article)
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Protiviti - Spreadsheet Risk Management: Frequently Asked Questions
Explore Article Provititi (Dec 04 2010)
Spreadsheets are everywhere. They enable us to quickly and flexibly perform analysis that otherwise would be difficult or time-consuming. As a result, we tend to place undue trust in the integrity of the analysis spreadsheets (Read Full Article)
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Best Practices
Five Common Spreadsheet Risks and Ways to Control Them
Explore Article The Institute of Internal Auditors (IIA) (Apr 11 2010)
Most internal auditors have used spreadsheet software for common tasks, such as calculating complex revenue adjustments and preparing financial reports. And, while spreadsheets can be excellent (Read Full Article)
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Explore Article CFO.com (May 14 2008)
Imagine someone in your finance department receiving a basic request to revise quarterly revenue forecasts for two products your company markets. A new spreadsheet is opened. Expected prices and volumes are typed into the first (Read Full Article)
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Best Practices from European Spreadsheet Risks Interest Group
Explore Article EuSpRig.org (Apr 12 2010)
Guidance on spreadsheet best practice is therefore gradually emerging, as it depends upon what you are doing. Here are some documents to get you started on the subject of best (Read Full Article)
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Excel Tools and Tips
2 Quick Ways to Sum Excel Data
Explore Article TechRepublicBlogs (Nov 17 2009)
There are a number of ways to insert a SUM() function into an Excel spreadsheet. The hard way is to enter the entire function manually. That method is prone to mistakes because you must know the cell references and then enter (Read Full Article)
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A Better Look at Your Spreadsheets
Explore Article CFO.com (Mar 16 2007)
Vista promises better and faster financial graphics, provided your PC can satisfy its prodigious appetite for processing power and (Read Full Article)
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Tickling the Keyboard: 10 Spreadsheet Tips
Explore Article CFO.com (Jan 17 2010)
Basic shortcuts to smooth the use of (Read Full Article)
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Analyst Research
Spreadsheet Controls Need a Boost, 2009 Gartner Update
Explore Article Gartner.com (Mar 03 2010)
Spreadsheets contain huge amounts of sensitive data; however, they lack risk controls inherent in IT-managed applications. Add-on control products reduce risk and improve user efficiency without affecting (Read Full Article)
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Bloor Research - Spreadsheet Governance
Explore Article BLOOR (Dec 14 2009)
You may use spreadsheets for a variety of purposes, and there are a variety of reasons for wanting to manage those spreadsheets in a coherent way. For example, you may wish to improve efficiency, enable collaboration or (Read Full Article)
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Bloor Research - Spreadsheet management maturity model
Explore Article BLOOR (Mar 02 2010)
The advantages of a maturity model are that it helps you to assess where you are and where you want to get to and, based on that recognition, can assist in putting a realistic plan together in order to manage the maturing (Read Full Article)
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Interesting Articles
How Internal Audit Adds Value to the Governance Process
Explore Article (Jun 17 2011)
The recent turbulent economic environment and financial scandals have brought the concept of corporate "governance" back to the forefront. The IIA has mandated that internal audit departments make "governance" an integral (Read Full Article)
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The Spreadsheet Error that Hid a Lemon
Explore Article Blogs.Gartner.com (Oct 20 2008)
In Maryland we have a lemon law — if you buy a new car and it turns out to have lots of defects then the dealer has to take it back. Should the same apply to banks? A federal judge will make that determination. In (Read Full Article)
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Balancing Act - A Risk Management Solution for Spreadsheets
Explore Article Home (Jun 11 2008)
Moderator: Welcome to another addition of Deloitte Insights, a production of Deloitte LLP. Deloitte Insights is an audio news podcast that looks at important business issues. Today’s program, " Balancing Act: A Risk (Read Full Article)
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Recent Articles for CIMCON Software
Explore Article (Jun 13 2011)
June 9, 2011, Boston and London. CIMCON Software, the Pioneering Market Leader in Spreadsheet Governance, Risk and Compliance (GRC) today announced that it has been selected as the top vendor for ‘Spreadsheet Compliance (Read Full Article)
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Explore Article (May 24 2011)
May 23, 2011, Boston and London. CIMCON Software Inc., the Pioneering Market Leader in Spreadsheet Governance, Risk and Compliance (GRC) solutions, today announced that it has been awarded the Microsoft Partner Network’s (Read Full Article)
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Explore Article (Apr 15 2011)
CIMCON Software Reaffirms Market Leadership with Record Revenues and Strategic Customer Acquisitions in 2010 February 1, 2011, Boston and London. CIMCON Software Inc., the Pioneering Market Leader in Spreadsheet Governance, (Read Full Article)
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Billions of Dollars Worth of Errors as Hundreds of Mistakes Found in State's Financial Records, Report Finds
Written by Administrator Mar 14 2012
A new South Wales Financial Audit has turned up hundreds of spreadsheet errors worth Billions of Australian Dollars. Errors range from data entry (mechanical errors) to misapplication of accounting rules (logical errors).
Countdown to Solvency II: Risk of Delay: Getting Pillar 3 on track
Written by Administrator Jan 25 2012
In this article, PwC discusses the need to recognize the urgency of preparing for Solvency II's Pillar 3 as well and assessing the challenges and accelerating preparations for Pillar 3 reporting.
Countdown to Solvency II: Getting the Balance Right
Written by Administrator Jan 25 2012
In this article, PwC discusses the how to provide the right kind of documentation to demonstrate compliance with Solvency II without creating an excessive amount of paperwork.
Countdown to Solvency II: Managing Spreadsheet Risk
Written by Administrator Jan 25 2012
Under Solvency, spreadsheets could prove to be especially useful in providing cost-effective and relatively easy to use solutions in areas such as data collation, data transformation and the analysis supporting expert judgements. However, spreadsheets ease of use can also lead to an inevitable risk of mistakes and making errors harder to detect. In this article, PwC explains the processes and benefits of using a systematic and strategic approach to managing and mitigating speadsheet risk.
