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Cimcon - The problem with spreadsheets

Spreadsheets form a core operational tool of most company‟s financial business processes. Spreadsheet usage is widespread and increasing in sophistication and complexity. If left uncontrolled, spreadsheets present an unacceptably high level of business and compliance risk for most organizations, whether as a result of errors, poor control or vulnerability to fraud. Even where manual control processes exist, these are unlikely to be sufficiently robust or enforceable to completely mitigate the potential risks and are likely to incur excessive manpower costs to meet the demands of regulators and auditors.