Powell, Baker & Lawson (2009)1% of all formulas in operational spreadsheets are in error.
Panko & Halverson (1996)Every study that has looked for errors has found them... in considerable abundance.
Caulkins, Morrison, & Weidemann (2006)People tend to believe their spreadsheets are more accurate than they really are.
Abraham & Erwig (2007)Spreadsheet errors have resulted in huge financial losses.
Bishop & McDaid (2007)The quality and reliability of spreadsheets is known to be poor.
Panko & Ordway (2005)Most large spreadsheets have dozens or even hundreds of errors.
Dunn (2010)Spreadsheets are extraordinarily and unacceptably prone to error.
Galletta, et al (1993)Even obvious, elementary errors in very simple, clearly documented spreadsheets are... difficult to find.
Kruck & Sheetz (2001)...few incidents of spreadsheet errors are made public and these are usually not revealed by choice.
Miller (2005)Untested spreadsheets are riddled with errors.
Murphy (2007)60% of large companies feel 'Spreadsheet Hell' describes their reliance on spreadsheets.
Teo & Tan (1999)Most executives do not really check or verify the accuracy or validity of [their] spreadsheets...
Panko (2013)It is irrational to expect large error-free spreadsheets.
Irons (2003)Spreadsheet errors are pervasive, stubborn, ubiquitous and complex.
Sajaniemi (1998)The results given by spreadsheets are often just wrong.
Beaman, et al (2005)Errors in spreadsheets... result in incorrect decisions being made and significant losses incurred.
Raffensperger (2001)Never assume a spreadsheet is right, even your own.
Paine (2001)Spreadsheets are alarmingly error-prone to write.
Nixon & O'Hara (2010)It is now widely accepted that errors in spreadsheets are both common and potentially dangerous.
Price (2006)The untested spreadsheet is as dangerous and untrustworthy as an untested program.
Rust, et al (2006)Spreadsheets have a notoriously high number of faults.
Colbenz (2005)Errors in spreadsheets are as ubiquitous as spreadsheets themselves.
Ayalew (2007)A significant proportion of spreadsheets have severe quality problems.
Nixon & O'Hara (2010)Spreadsheet errors are still the rule rather than the exception.
Caulkins, Morrison & Weidemann (2008)Spreadsheets are commonly used and commonly flawed.
Panko (2007)The issue is not whether there is an error but how many errors there are and how serious they are.
Howard (2005)Spreadsheets... pose a greater threat to your business than almost anything you can imagine.
Panko (2008)94% of the 88 spreadsheets audited in 7 studies have contained errors.
Caulkins, Morrison, & Weidemann (2006)Your spreadsheets may be disasters in the making.
Chadwick (2002)Spreadsheet errors... a great, often unrecognised, risk to corporate decision making & financial integrity.
Panko (1999)Every study, without exception, has found error rates much higher than organizations would wish to tolerate.
Chen & Chan (2000)Spreadsheets are easy to use and very hard to check.
Cunha, et al (2011)Spreadsheets are notoriously error-prone.
Krishna, et al (2001)Programmers exhibit unwarranted confidence in the correctness of their spreadsheets.
Ross (1996)A lot of decisions are being made on the basis of some bad numbers.
Abraham, et al (2005)Spreadsheets contain errors at an alarmingly high rate.
Spreadsheets are notoriously error-prone: research shows that 95% contain errors.
If your spreadsheets have not been verified, then you cannot trust that they produce reliable, accuracy, and robust results.
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