Model Review

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Model review and audit exemplified by a project financed transaction

Accurate integrated budgeting requires a systematic approach in order to avoid costly decision-making errors.

In our one-day training course in model review and audit you will become acquainted with all common tools offered by Excel for the verification of models.

On the basis of a flawed model and a case study we will show you the structured approach to a comprehensive model review and audit and you will learn to quickly detect and document weaknesses. Here, you will use various tools supporting the model review and receive tips how to check formulas and macros. Finally you will become acquainted with targeted methods to validate the results generated by the model.

At the end of the day you will have a model that runs properly and is free of errors.

Model Review & Audit (1 day)
Review of a flawed Excel model beginning with the entry sheet and ending with the risk analysis.

"Model Review & Audit" is a training course offered by Euler Hermes Aktiengesellschaft.

Objectives

  • Quickly detecting and documenting weaknesses
  • Revising a flawed Excel model
  • Structured approach to a comprehensive model review and audit
  • Improving of the quality, stability and transparency of Excel models through reviewing them according to a particular method
  • Tips for a short review and typical mistakes
  • Using common tools offered by Excel for the review of models

Programme content

Introduction into the training

  • Why model review and audit?
  • Objectives and methodology
  • Review in Excel

Principles of the model review and audit

  • Best practices for the review
  • Check lists
  • Documentation

Case study

  • Quick overview
  • Audit of entry data

Review of structure and design

  • Best practice in modelling
  • External links
  • Circular references
  • Consistency
  • Tips and tricks

Check of formulas

  • Types of possible mistakes
  • Integration of check cells
  • Use of conditional formatting
  • Detective toolbar
  • Tips and tricks

Economic aspects

Plausibility checks of the results

  • Extreme value approach
  • Black box test
  • Benchmarking
  • Tips and tricks

Sensitivity analysis

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