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

Spreadsheet bibliography

Title Practical challenges with spreadsheet auditing tools
Authors Daniel Kulesz & Jan-Peter Ostberg
Year 2013
Type Proceedings
Publication EuSpRIG
Series  
Abstract

Just like other software, spreadsheets can contain significant faults. Static analysis is an accepted and well-established technique in software engineering known for its capability to discover faults. In recent years, a growing number of tool vendors started offering tools that allow casual end-users to run various static analyses on spreadsheets as well.

We supervised a study where three undergraduate software engineering students examined a selection of 14 spreadsheet auditing tools, trying to give a concrete recommendation for an industry partner. Reflecting on the study's results, we found that most of these tools do provide useful aids in finding problems in spreadsheets, but we have also spotted several areas where tools had significant issues.

Some of these issues could be remedied if spreadsheet auditing tool vendors would pick up some ideas of static analysis tools for traditional software development and adopt some of their solution approaches.

Full version Available
Sample
Spreadsheet before and after coloring by an auditing tool
Spreadsheet before and after coloring by an auditing tool
Many auditing tools color cells to indicate findings. The use of colors is problematic, as colors are often already used as part of the original spreadsheet so users may not recognize their own spreadsheets and thus are unable to trace the findings.
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