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CFO Horror Story: Can You Trust Your Spreadsheets?

94% of an organization's spreadsheets will contain errors. While it's true that some of these errors could be inconsequential, a single “big” error could result in equally big problems for the company. Jonny Evans brings this to the forefront in this article to help illustrate why having a formal risk management plan for spreadsheets isn't such a bad idea. Evans lists lack of ownership, process, and lack of accountability as reasons for such a high error rate, and explains how deeply it can affect a company's bottom line. Think for a moment about how much information (and what type of sensitive information) is kept in the spreadsheets within your company. Do you have a process in place to protect, verify, and maintain that information?

About Anne Grybowski

Anne is a former staff writer for CAI's Accelerating IT Success, with a degree in Media Studies from Penn State University.

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