(This article is a follow-on to GL Recons with EXCEL is Dead which posed the questions about the unreliability of spreadsheet based GL reconciliations. As any CFO knows, the numbers that bubble up from the general ledger into the balance sheet need to be trustworthy.
Three Principles to Reduce Risk in Finance & Accounting Spreadsheets
Spreadsheets pose a clear and present risk to the reliability of figures that surface in the balance sheet. Here I present three principle steps that any organisation can employ to radically reduce the probability of errors bubbling up into financial reports.