Retained earnings and Spreadsheet risk: Difference between pages

Revision as of 06:16, 4 July 2017

The risk of financial losses or other adverse effects resulting from invalid assumptions, other errors, omissions or duplications in a spreadsheet.

Losses and other adverse effects may also result from any one or more of:

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-The final accounting profit (or loss) for the reporting period which is transferred to the profit and loss reserve in the balance sheet to be accumulated with prior periods’ profits and losses.
+The risk of financial losses or other adverse effects resulting from invalid assumptions, other errors, omissions or duplications in a spreadsheet.
+Losses and other adverse effects may also result from any one or more of:
+*Fraud
+*Overconfidence in the spreadsheet's results
+*Overdependence on the spreadsheet
+*Misinterpretation of results
+*Failure to communicate assumptions and limitations
+*Or failure to understand the consequences of assumptions and limitations.
 == See also ==
-* [[Profit and Loss reserve]]
+* [[Model risk]]
+* [[Spreadsheet]]
+*[[EuSpRIG]]
+[[Category:Manage_risks]]
+[[Category:Technology]]