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Microsoft Excel has been the spreadsheet tool of choice, but there are other options. When evaluating...

Microsoft Excel has been the spreadsheet tool of choice, but there are other options. When evaluating Excel, IDEA, and other spreadsheet or data analytic tools, what are the benefits and limitations? How might you, as an auditor, decide which tool is the best for the task? If you choose an alternative to Excel, how would you “sell” the idea to others in your organization who may not know there are other options?
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Microsoft Excel is the most utilized spreadsheet programming far and wide. The spreadsheets present tables masterminded in lines and sections and are utilized to figure essential and complex numerical activities and capacities.

Impediments of Using Spreadsheets for Reinsurance Programs

Joint effort is Limited. ...

Absence of controls, defenseless against misrepresentation. ...

No log of progress. …

Not set up for fiasco. ...

Vulnerable to expensive human mistakes. ...

Hard to investigate or test. ...

Administrative consistence challenges. ...

Difficult to oversee information security

Spreadsheets have their preferences too – they are an astounding device that enables us to do broad investigation. Be that as it may, for the simple recovery and refreshing of information, productivity, information consistency, information honesty, speed, and security, social databases are unquestionably the structure to decide on

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