|Title||Only a matter of time before the spreadsheets hit the fan|
|Series||30 June 2005|
|Abstract||Inaccurate financial information is widespread and is putting businesses at risk.|
Even the simplest spreadsheet calculations in a company are not tested independently for accuracy and the probability of material error is way over 90pc.
"It's very worrying. Untested spreadsheets are riddled with errors very often because the incorrect formula has been entered in the first place."