Spreadsheets and the Challenge of Model Risk Management
This misunderstanding creates risk and cost for the whole business: high operational costs are incurred as users repeatedly applying manual checks, while executives sit frustrated at the slow pace of financial reporting and analysis. Meanwhile IT waits on the wings for the next panic around spreadsheet decommissioning and systems development to erupt. Surely there must be a better way?
The good news is that for those organizations prepared to invest in transparency, all these problems can be
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