Audit Excel Formulas to find Financial Spreadsheet ErrorsSPREADSHEETS are notoriously difficult to validate. Undetected errors have caused large financial losses and expensive litigation. The Spreadsheet Detective helps ensure model correctness in Microsoft® Excel® by providing automated documentation that highlights mistakes. The tool received a 5 Star (top) rating from ZD Net.
Microsoft Excel Spreadsheet Audit Features
The Spreadsheet Detective generates graphical annotations that can:-
Bottom Line — Research"Spreadsheet Detective is one of the longest established and most comprehensive suites of auditing tools that we have seen. This is not to say that other products may not have features that are not in Spreadsheet Detective or that, in some instances, we might prefer a competitor’s implementation of a particular feature but, overall, the product is clearly the market leader, and deservedly so."
Read full extract.
Excel Spreadsheets & Section 404 of Sarbanes-Oxley (SOX)The following is an extract from The Use of Spreadsheets: Considerations for Section 404 of the Sarbanes-Oxley Act PricewaterhouseCoopers:-
“Anecdotal evidence suggests that 20% to 40% of spreadsheets have errors, but recent audits of 54 spreadsheets found that 49 (or 91%) had errors, according to research by Raymond R. Panko, a professor at the University of Hawaii.”
"The Journal of Property Management stated, “30 to 90 percent of all spreadsheets suffer from at least one major user error. The range in error rates depends on the complexity of the spreadsheet being tested. In addition, none of the tests included spreadsheets with more than 200 line items where the probability of error approaches 100 percent.”
"Perform an on line search for spreadsheet errors or spreadsheet audit, and you will find a number of major failures attributed to spreadsheet inaccuracies that hit the press in the past year alone."
The Original Spreadsheet Detective
Detective has been revealing modeling errors
1997. Many features have been added since that time based on
extensive customer feedback. Other less established spreadsheet
auditing tools may offer
some superficially similar features, but they lack the depth and
quality of the Spreadsheet
Young, PricewaterhouseCoopers, Deloitte Touche Tohmatsu,
CitiBank, Bankers Trust, Australia Post, Bentleys, BDO
Nelson Parkhill, AMP, Preston Resources, Westpac Bank,
William Mercer, Pannell Kerr Forster, Caladonian Life, Deutsche
Bank, Thiess Construction, Queensland Treasury, Duke Energy, ANZ Bank,
Brewery, Navigator Project Finance, General Motors, Lotus 123, ...
Libre/Open Office Calc Detective
(The Spreadsheet Detective should not be confused with the "Detective" feature in Libre/Open Office Calc which just provides similar features to Excel's in built audit arrows. The Spreadsheet Detective has been available since 1997, and the use of the same name for the Calc feature is unfortunate. Generally, while Calc may be an excellent tool for the casual spreadsheet user, it is not recommended for developing serious quantitative models.)
Pricing and Support
Excel 2010 is fully supported, as are Excel 2007 and Excel 2003. Please direct any questions to the email below. The Spreadsheet Detective is an essential tool when auditing Excel spreadsheets.Melissa and Anthony Berglas Southern Cross Software
Queensland Pty Ltd ABN 41 079 368 200 E-Mail: email@example.com http://www.SpreadsheetDetective.com
Phone +61 4 4838 8874 (email generally preferred)
"Microsoft and the Office logo are trademarks or registered trademarks of Microsoft Corporation in the United States and/or other countries."
Comprehensive Workbook Report
Gives the big picture in complex models by describing all worksheets, many potential error conditions, data flow between each worksheet, references to external workbooks etc. More...
Simple Excel Audit Formula Map
Cell shading clearly shows how formulas have (or have not!) been copied through a spreadsheet. More...
AutoName NonModal window
Constantly displayed to show the meaning of cryptic A1 references. Use hyperlinks to easily navigate to precedents. More...
This can also be shown in a condensed formula map report. More...
Formula AutoName Report
Provides a complete list of all unique formulas and named ranges. AutoNames clarify cryptic A1 references. More...
Full Graphical Formula Map
Completely describes a model by annotating the spreadsheet itself. More...
Data Flow Interactive Task Pane
Easily view and navigate workbook precedents and dependents between worksheets. Understand A1 references with AutoNames. More...
Clearly shows changes between different versions of a spreadsheet even if rows or columns have been inserted or deleted. More...
Audit Process Control
Mark formulas as verified, questionable or erroneous. Collate them in a workbook audit status report. More...
Worksheet Interactive Task Pane
Easily navigate between sheets in a large workbook. Take value snap shots of worksheets, change protections on multiple sheets at once etc. More...
Quickly navigate to worksheets or named ranges by just typing a few characters from their name. More...
Master Key Encryption
You know you should encrypt your extremely sensitive workbooks, but what if you lose the password? Master key encryption makes protecting your data practical. More...
Precedents & Dependents Report
Provide a detailed outline report to validate workbook precedents or dependents. More...
Discover where your spreadsheet models are, and what other models link to them. More...
Range Name Dialog
View and edit named ranges, easily verifiy their definitions and automatically update the formulas that use them. More...