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

Spreadsheet bibliography

Title Spreadsheet risk - a new direction for HMRC?
Authors Don Price
Year 2006
Type Proceedings
Publication EuSpRIG
Series  
Abstract

Her Majesty's Revenue & Customs (HMRC) was born out of the need to create a UK tax authority by merging both the Inland Revenue and HM Customs & Excise into one department. HMRC encounters spreadsheets in tax-payers’ systems on a very regular basis as well as being a heavy user of spreadsheets internally.

The approach to spreadsheet risk assessment and spreadsheet audit is by the use of trained computer auditors and data handlers. This, by definition, limits the use of our specialist spreadsheet audit tool to such trained staff.

In order to tackle the growing use of spreadsheets, a new way of approaching the problem has been piloted. The aim is to issue all staff who come across spreadsheets with a simple to use analysis and risk assessment tool, based on the departmental software SpACE (Spreadsheet Audit & Compliance Examination).

Full version Available
Sample
Survey of SpACE usage and results
Survey of SpACE usage and results

The survey, sent to SpACE equipped staff, captured facts and figures relating to our spreadsheet audit work, to ensure that SpACE is being used consistently and to disclose any figures relating to errors found and revenue affected.

Over the last three years, on average users spent over 30 hours per audit and 14% of audits produced additional revenue.

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