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 since
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 Detective.
Deloitte Touche Tohmatsu, Ernst & Young, PricewaterhouseCoopers,
KPMG, Grant Thornton, Morgan Stanley, 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,
Guinness 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 adequate tool for the casual spreadsheet user, it is not recommended for developing serious quantitative models.)
Pricing and Support
Excel versions are supported from Excel 2013 down to 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: firstname.lastname@example.org 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."
See the Video Tutorials for details
Comprehensive Workbook ReportProvides a bird's eye view of complex models by summarizing each worksheet, highlighting potential error conditions, showing data flow between each worksheet, references to external workbooks etc.
Distinct and Copied FormulasCell shading clearly shows which cells have formulas, and how they have (or have not!) been copied throughout a spreadsheet. New bold shading highlights inconsistent formulas on larger models. And the shading is right on the actual model, so that it can be seen while the model is being developed.
AutoName Non-modal windowShows the active cell's formula with "English" AutoNames that clarify the meanings of the cryptic A1 references. So the cryptic reference $E$26 below can be described with the AutoName InterestOnCapital. AutoNames are based on cell labels, so that unlike conventional named ranges they are always up to date as a spreadsheet model evolves.
The dialog is non-modal so it can be constantly displayed to help you while you edit the underlying model. Hyperlinks make it easy navigate to precedents. But more importantly AutoNames let you understand what most A1 references mean without needing to navigate to the precedent cell.
This can also be displayed more fully as a task pane.
Formula AutoName ReportProvides a complete list of all distinct formulas and named ranges. AutoNames clarify cryptic A1 references.
Full Graphical Formula AnnotationsCompletely describes a model by annotating the spreadsheet itself.
Worksheet ComparisonClearly shows changes between different versions of a model even if rows or columns have been inserted or deleted. Can also compare different parts of the same worksheet.
Audit Process ControlMark formulas as verified, questionable or erroneous. Collate them in a workbook audit status report. Control your communications with the model author
Quick Model NavigatorQuickly navigate to worksheets or named ranges by just typing a few characters from their name.
Master Key EncryptionYou know you should encrypt your extremely sensitive workbooks, but what if you lose the password? Master key encryption makes protecting your data practical.
Precedents & Dependents ReportsProvide a detailed outline report to see where values is comming from and where they are going.
Workbook DiscoveryDiscover where your spreadsheet models are, and what other models link to them.
Sensitivity AnalysisObtain a new perspective by examining each formula's sensitivity.
Range Name DialogView and edit named ranges, easily verifiy their definitions and automatically update the formulas that use them.
See Video Tutorials for details