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- Title
Who Relies on Spreadsheets? Too Many.
- Authors
Falck, Peter; Lynn, Bruce
- Abstract
This article discusses the results of a survey on treasury technology used by companies, conducted by SimCorp USA Inc. and the Financial Executives Consulting Group (FECG). In spite of several advances in the area of treasury management technology, many companies are still reliant on spreadsheets to keep track of their cash and observe the progress of business plans. The author notes that dependency on spreadsheets brings with it an unnecessary level of operating risk, particularly for senior managers that guarantee the financial controls of their company in compliance with the Sarbanes-Oxley Act. Other negative aspects of spreadsheets are mentioned including their difficultly in auditing and lack of real-time information applications.
- Subjects
UNITED States; ELECTRONIC spreadsheets; FINANCIAL management; CORPORATE finance; COMPUTERS in business; CORPORATE treasurers; SIMCORP A/S; UNITED States. Sarbanes-Oxley Act of 2002; REAL-time computing; AUDITING; EXECUTIVES; LEGAL compliance
- Publication
Financial Executive, 2004, Vol 20, Issue 6, p70
- ISSN
0895-4186
- Publication type
Article