Spreadsheet Governance

Policies & Procedures

Firms need to document their Policies/Procedures regarding spreadsheet usage and periodically revise them in the light of errors they might have contributed toward.
The Policies/Procedures should include a determination of the risk v reward tradeoff in using specific spreadsheets and their approval process.

Spreadsheet Risk Assessment

All the spreadsheets used by your firm which are used in operations need to be identified and checked for accuracy and access controls.
Spreadsheets should be risk assessed to ensure monitoring is focused on those representing the highest risk.

Spreadsheet Monitoring

Each spreadsheet needs to be reviewed at a risk assessed frequency to ensure it complies with the firm's Spreadsheet standards and remains necessary, complete, accurate and that its risk assessment has not changed since the last assessment.

Errors: Identification & Reporting

On an exception basis, operational errors where it is assessed that a spreadsheet was a contributory factor need to be reported. Remedial action might include assessing why the spreadsheet failed and how to prevent a recurrence.

Maestro-Solutions for

Spreadsheet Governance

Excel is the most widely used financial services software - but it needs to be strictly governed.

Challenge

Maestro-Solution

Policies & Procedures

Spreadsheet Risk Assessment

Spreadsheet Monitoring

Errors: Identification & Reporting

Governance/Risk/Compliance

GRC Maestro

Prove Compliance – Evidence your Governance, Risk & Compliance (GRC)

Automate GRC – Run manual checks and processes automatically

Low Cost – Quick and easy to use + low pricing