Compliance risk in spreadsheets found

A new survey by the Chartered Management Institute (CMI) of 109 City compliance managers found some disturbing results. Anthony Epstein, chairman of the chartered management institute Operational Risk Forum, says: "We were concerned to find such a strong reliance on spreadsheets for compliance monitoring (71%) and reporting (67%), given the well-documented history of errors caused by using spreadsheets for consolidation, and their inherent lack of security

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