The risk detectors versus the spreadsheet

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"A spreadsheet is like having the company chequebook in your desk drawer. There's a difference between being able to spend money and doing it within a proper, controlled environment."

This is the view of David Bishop, leader of PricewaterhouseCoopers' risk assessment services practices in the UK, a man who spends his working life identifying how much trouble spreadsheets are causing to the organisations that use them.

Bishop and his colleague Grant Waterfall recently collaborated with the software trade body BASDA to produce a report exploring the implications of the US Sarbanes-Oxley Act on financial software and reporting practices in the UK. In this interview, they expand on their findings and offer some practical suggestions on how to minimise spreadsheet risks.

The reason BASDA approache...

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