Welcome to BGB Solutions
Spreadsheets are widely known to be a source of corporate risk throughout the entire organization. Financial, analytical and operational spreadsheets are increasingly considered as potential sources of financial impact that need their own controls. Companies that fail to adequately manage their spreadsheets can find themselves subject to audit deficiency statements.
With our industry-leading automated and non-intrusive tools we are able to lift the lid off your spreadsheets to provide detailed analytics, discover accounting errors, reveal fraudulent activities, highlight external dependencies and bad design practices. Even the simplest of errors can have a damaging knock-on effect when subsequent spreadsheets and other data sources refer to incorrect values.
Reports of spreadsheet fraud and mismanagement are common, with the Enron and WorldCom scandals perhaps the most well known. Subsequently there have been numerous studies into the explosion in popularity of end-user computing tools such as spreadsheets.
92% of financial models contain tax errors. Over 70% had no formal quality assurance systems in place. KPMG
90% of models reviewed contained at least one calculation error. In 21 out of 23 models, results were inaccurate by more than 5%. Coopers and Lybrand.
