Assurance that your models are accurate

ModelVerify performs an independent professional audit of your model to increase confidence and decrease risk of misinforming decisions that may impact your bottom line.


of spreadsheet models contain errors1

45% are incorrect calculations.

24% are incorrect cell pointers or typing errors.

31% are omissions of important model components or dynamics.

1. Panko, R.R. and Halverson, R.P., Jr. (2001). An experiment in collaborative spreadsheet development. Journal of the Association for Information Systems; 2(4), July.

“Research on spreadsheet errors is substantial, compelling and unanimous.  Errors are extremely difficult to detect and correct, and spreadsheet developers are highly overconfident in the accuracy of their spreadsheets.” 2

Raymond R. Panko, PhD, MBA, Professor Emeritous Shidler College of Business

2. Panko, R.R. (2015). Spreadsheet Risk Management. Proceedings of the EuSpRIG 2015 Conference ISBN: 978-1-905404-52-0.

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Logic errors:

  • Misplaced or absent parentheses
  • Circular references
  • Array formulas referencing incomplete arrays
  • Missing input values
  • Incorrect answers due to error supression functions (IFERROR, ISERROR, ISNA, etc.)
  • Double-counting totals
  • Divide by zero errors
  • Incorrect links to external files
  • Incorrect lookup results
  • Calculations referencing non-numeric values
  • Reference errors (#REF)
  • Calculation errors due to inserting or deleting rows or columns
  • Calculation to incorrect precision
  • Incorrect use of OR and AND functions

Mechanical errors: 

  • Incorrect cell pointers
  • Transposition errors
  • Orphan inputs
  • Numbers entered in cells formatted as text
  • Cells containing a space
  • Names defined for an incomplete range
  • Incorrect lookup ranges
  • ##### display
  • Inconsistencies in a pattern of formulas

Omission errors:

  • Model components or dynamics defined in requirements are not present

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