Spreadsheet errors have resulted in huge financial losses.
Abraham & Erwig (2007)
Spreadsheets... pose a greater threat to your business than almost anything you can imagine.
Howard (2005)
Spreadsheets are dangerous to their authors and others.
Durusau & Hunting (2015)
Spreadsheets have a notoriously high number of faults.
Rust, et al (2006)
Spreadsheets can be viewed as a highly flexible programming environment for end users.
Abreu, et al (2015)
Every study, without exception, has found error rates much higher than organizations would wish to tolerate.
Panko (1999)
Spreadsheet shortcomings can significantly hamper an organization's business operation.
Reschenhofer & Matthes (2015)
The software that end users are creating... is riddled with errors.
Burnett & Myers (2014)
Spreadsheets contain errors at an alarmingly high rate.
Abraham, et al (2005)
The results given by spreadsheets are often just wrong.
Sajaniemi (1998)
Errors in spreadsheets are as ubiquitous as spreadsheets themselves.
Colbenz (2005)
94% of the 88 spreadsheets audited in 7 studies have contained errors.
Panko (2008)
Spreadsheets are notoriously error-prone.
Cunha, et al (2011)
Spreadsheets are extraordinarily and unacceptably prone to error.
Dunn (2010)
Spreadsheets are easy to use and very hard to check.
Chen & Chan (2000)
A significant proportion of spreadsheets have severe quality problems.
Ayalew (2007)
Your spreadsheets may be disasters in the making.
Caulkins, Morrison, & Weidemann (2006)
Developing an error-free spreadsheet has been a problem since the beginning of end-user computing.
Mireault (2015)
1% of all formulas in operational spreadsheets are in error.
Powell, Baker, & Lawson (2009)
Every study that has looked for errors has found them... in considerable abundance.
Panko & Halverson (1996)
Spreadsheet errors... a great, often unrecognised, risk to corporate decision making & financial integrity.
Chadwick (2002)
People tend to believe their spreadsheets are more accurate than they really are.
Caulkins, Morrison, & Weidemann (2006)
Spreadsheet development must embrace extensive testing in order to be taken seriously as a profession.
Bock (2016)
Programmers exhibit unwarranted confidence in the correctness of their spreadsheets.
Krishna, et al (2001)
The untested spreadsheet is as dangerous and untrustworthy as an untested program.
Price (2006)
Spreadsheets are often hard, if not impossible, to understand.
Mireault & Gresham (2015)
Spreadsheets are alarmingly error-prone to write.
Paine (2001)
Spreadsheets are commonly used and commonly flawed.
Caulkins, Morrison, & Weidemann (2008)
Despite being staggeringly error prone, spreadsheets are a highly flexible programming environment.
Abreu, et al (2015)
...few incidents of spreadsheet errors are made public and these are usually not revealed by choice.
Kruck & Sheetz (2001)
Never assume a spreadsheet is right, even your own.
Raffensperger (2001)
Errors in spreadsheets... result in incorrect decisions being made and significant losses incurred.
Beaman, et al (2005)
The issue is not whether there is an error but how many errors there are and how serious they are.
Panko (2007)
Overconfidence is one of the most substantial causes of spreadsheet errors.
Sakal, et al (2015)
Despite overwhelming and unanimous evidence... companies have continued to ignore spreadsheet error risks.
Panko (2014)
Studies have shown that there is a high incidence of errors in spreadsheets.
Csernoch & Biro (2013)
Untested spreadsheets are riddled with errors.
Miller (2005)
Research on spreadsheet errors is substantial, compelling, and unanimous.
Panko (2015)
Spreadsheets are more fault-prone than other software.
Kulesz & Ostberg (2013)
Spreadsheet errors are pervasive, stubborn, ubiquitous and complex.
Irons (2003)
Most large spreadsheets have dozens or even hundreds of errors.
Panko & Ordway (2005)
Even obvious, elementary errors in very simple, clearly documented spreadsheets are... difficult to find.
Galletta, et al (1993)
It is now widely accepted that errors in spreadsheets are both common and potentially dangerous.
Nixon & O'Hara (2010)
Spreadsheet errors are still the rule rather than the exception.
Nixon & O'Hara (2010)
60% of large companies feel 'Spreadsheet Hell' describes their reliance on spreadsheets.
Murphy (2007)
It is irrational to expect large error-free spreadsheets.
Panko (2013)
Most executives do not really check or verify the accuracy or validity of [their] spreadsheets...
Teo & Tan (1999)
Spreadsheets are the most popular live programming environments, but they are also notoriously fault-prone.
Hermans & van der Storm (2015)
The quality and reliability of spreadsheets is known to be poor.
Bishop & McDaid (2007)
A lot of decisions are being made on the basis of some bad numbers.
Ross (1996)

Spreadsheet bibliography

Title An empirical study of end-user behaviour in spreadsheet error detection & correction
Authors Brian Bishop & Kevin McDaid
Year 2007
Type Proceedings
Publication EuSpRIG
Series  
Abstract

Very little is known about the process by which end-user developers detect and correct spreadsheet errors. Any research pertaining to the development of spreadsheet testing methodologies or auditing tools would benefit from information on how end-users perform the debugging process in practice.

Thirteen industry-based professionals and thirty-four accounting & finance students took part in a current ongoing experiment designed to record and analyse end-user behaviour in spreadsheet error detection and correction. Professionals significantly outperformed students in correcting certain error types.

Time-based cell activity analysis showed that a strong correlation exists between the percentage of cells inspected and the number of errors corrected. The cell activity data was gathered through a purpose written VBA Excel plug-in that records the time and detail of all cell selection and cell change actions of individuals.

Full version Available
Sample
Errors corrected over cells inspected
Errors corrected over cells inspected

An important research goal was to determine if there was a correlation between the number of cells inspected and error detection/correction performance.

A scatterplot for errors corrected versus coverage shows a moderate-strong linear relationship.

That is, the more cells that are inspected, the more errors are detected.

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