The latest version of Excel comes with some built-in checking and audit tools. Simon Hurst explains how one of them can help most users reduce the risk of spreadsheet errors.
Admittedly, many of these high-profile debacles are more to do with faulty commercial logic or data input errors than to “simple” spreadsheet errors such as someone overwriting a formula with a fixed figure. However, there is little doubt that these sort of mechanical issues do cause a great deal of wasted time at best and career-threatening errors at worst. Third party spreadsheet checking and audit tools have been available for some time but in my experience, which is mainly with smaller organisations, they are not in anything like general use.
The Office Professional Plus version of Excel 2013 now includes some testing and auditing features of its own. The Discovery and Risk Assessment module is aimed at managing spreadsheets within larger organisations, while the Inquire add-in is aimed at all spreadsheet users.
Register with AccountingWEB.co.uk and log in to see the full article, which provides a detailed rundown of how the Inquire add-in works, including:
- Workbook Analysis Report
- Workbook/Worksheet/Cell Relationship
- Compare Files
- Interactive Diagnostics