A Computational Framework for the Near Elimination of Spreadsheet Risk

We present Risk Integrated's Enterprise Spreadsheet Platform (ESP), a technical approach to the near-elimination of spreadsheet risk in the enterprise computing environment, whilst maintaining the full flexibility of spreadsheets for modeling complex financial structures and processes. In its Basic Mode of use, the system comprises a secure and robust centralized spreadsheet management framework. In Advanced Mode, the system can be viewed as a robust computational framework whereby users can "submit jobs" to the spreadsheet, and retrieve the results from the computations, but with no direct access to the underlying spreadsheet. An example application, Monte Carlo simulation, is presented to highlight the benefits of this approach with regard to mitigating spreadsheet risk in complex, mission-critical, financial calculations.

• Type: Journal
• Year: 2008
• Where: CORR
• Authors: Yusuf Jafry, Fredrika Sidoroff, Roger Chi
• Keywords: CORR 2008, Education, Enterprise Spreadsheet Platform, Robust Centralized Spreadsheet, Spreadsheet