The Spreadsheet Dilemma

Spreadsheets are core to the operations of most businesses. Whether the use is to support finance, accounting, operations, risk management, product control, trading or regulatory reporting, spreadsheets provide the business with great flexibility, and a speed of development that formal application systems will never be able to compete with.

And with an increasing need for rapid business innovation but with little time or budget to develop formal systems the use of spreadsheets and other end user computing applications will continue to grow.

Organisations face a dilemma. Spreadsheets have inherent weaknesses, can create serious control issues, unacceptable levels of operational risk and high maintenance costs, yet companies are forced to live with these problems because of the cost and time required to migrate off spreadsheet applications.

With the need to meet greater levels of regulation and compliance, including Sarbanes-Oxley (SOX), JSOX, Loi sur la Sécurité Financière, Solvency II, IFRS, the NAIC Model Audit Rule and pressure from both internal and external auditors and regulators organisations now need to take pro-active measures to address these risks.

Finsbury Solutions provides a comprehensive set of easy to use solutions to meet all the stages of effective spreadsheet and EUC control. So whether you are the largest of global enterprises, a specialist firm with a small number of complex mission critical spreadsheet or a professional audit or advisory firm please contact Finsbury now.