Open Platform: Supervising Spreadsheets to Manage Risk

Ralph Baxter, CEO of ClusterSeven

What connects a billion-dollar reporting mistake by a global oil giant and an error in the growth of the UK construction industry by the UK’s Office of National Statistics? The answer is spreadsheet risk. By Ralph Baxter

The most recent example of the seriousness of spreadsheet risk concerns the UK’s Office of National Statistics (ONS). On August 12 this year, the ONS issued a correction after admitting an “arithmetical error” had caused it to overstate the strength of the UK construction

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