This article is for CFOs, CEOs and other members of Senior Leadership Team. It requires just 10 minutes to read. But it will reduce your personal as well as organizational Operational Risk significantly. Notice the green mark below.
This is the biggest Excel risk.
If you see even a single green mark, you should send the file back.
Ask the sender to handle all the green marks and send the revised file to you.
Of course, they may not know what you are talking about.
Ask them to read these 5 articles: Knowledge Pack: Green Marks in Excel
The rule is, Excel sheet with Green Marks should not be sent to anybody. It is the sender’s responsibility to remove all errors – not the recipient’s.
Continue reading Excel risk Mitigation
These marks indicate some potential error. Outdated formulas, numbers stored as text and so on. If you ignore these errors, you are at a significant risk of viewing and using wrong data for your decision making. Here is a set of articles which explain exactly how to utilize these green marks to your advantage. These are your best friend.
Never interpret anything in any Excel file unless you are sure that all the green marks are handled (all potential errors are corrected!).
- Auditors, Risk Managers, Everyone: Did you know? These green marks are WARNINGS!!
- Green Marks Part 2: Formulas showing wrong results!
- Green Marks Part 3: More error handling
- Green Marks Part 4: Inconsistent Formulas
- Green Marks Part 5/5 (Background Error Checking in Excel)
Share this critical information with your boss, colleagues, subordinates and loved ones. Everyone needs to know this!
You may not have even realized this. But there is a very high chance that you have leaked out confidential information before – not once, but many times. How does this happen? and How does Outlook help you protect yourself and prevent inadvertent leakage… read on to find out.
Continue reading How Outlook helps you prevent inadvertent leakage of sensitive information
This is a very common and dangerous inaccuracy.
Big operational risk!
Check all your dates imports after reading this article.
Share it with your colleagues as well.
Estimated reading time 15 min
Continue reading Global Alert: CSV import Date Misinterpretation Problem – Part 2
I am sure we see these everyday across almost all Excel files. But do you know the meaning and significance of these green marks?
These are WARNINGS – it is Excel’s way of telling you NOT to trust what you see. Billions of people are ignoring these green marks for over a decade. If you are one of them, please read this article and share it with everyone who matters to you.
Continue reading Auditors, Risk Managers, Everyone: Did you know? These green marks are WARNINGS!!
This is the third article in this series. Please read these articles as well:
Auditors, Risk Managers: Excel spreadsheet analysis using the new Inquire tool
Spreadsheet Analysis using Inquire – Relationship Diagrams
Spreadsheet Risk is very important for everyone – from a single user to a large organization. Because an interpretation mistake or a wrong value can be very costly indeed.
In this article we will see how to compare two spreadsheets. Using the old method and the new amazing tool which comes with Office 2013.
Continue reading Auditors, Risk Managers: Inquire- The ultimate Spreadsheet Comparison tool in Excel 2013
Imagine that you have 50,000 rows of data. You want to add a new calculated column. Adding the formula is easy. But copying it to 50,000 rows is nothing but frustration.
Three methods are typically used: All of them are inefficient!
Copy and Paste, Drag and Double Click. Drag is lengthy – so is Copy Paste. Double Click is DANGEROUS because it stops if the column on the left has a blank cell. And usually we have lots of blank cells – at least we have to assume so!
Of course, there is a solution – a magical solution!
Continue reading Copy formulas automatically and accurately (even with blanks)
No. I am NOT talking about removing the track changes metadata here. That is easily done using Inspect Document. The problem is that Track Changes can be misused to cheat you. It is extremely easy to cheat and difficult to detect it. Read on to find out the solution.
Continue reading Legal: You can be cheated using Track Changes