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Is Microsoft’s Excel the most dangerous software in the world?

IS Microsoft’s Excel the most dangerous software in thewWorld? It could be actually. That is, that the very existence of Excel itself makes it the most dangerous software in the world.

There’s two parts to this. One is that we’ve got the regulators trying to warn banks on the dangers of using it badly.

Both the Switzerland-based Basel Committee on Banking Supervision1 (BCBS) and the Financial Services Authority2 (FSA) in the UK have recently made it clear that when relying on manual processes, desktop applications or key internal data flow systems such as spreadsheets, banks and insurers should have effective controls in place that are consistently applied to manage risks around incorrect, false or even fraudulent data. The citation by the BCBS is the first time that spreadsheet management has ever been specifically referenced at such a high level, a watermark in the approach to spreadsheet risk.

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Posted: 13th, February 2013 | In: Money, Technology | Comment