Audit of Settlement Financial Models

Client: Government Agency

A government agency was using Excel-based models to calculate payments to vendors in accordance with complex contracts. Due to recent mishaps, including several overpayments, they required an audit of the models’ functioning.

3 Key Insights:

Over two years we audited 11 different models, reading the contracts and tracing thousands of complex formulas to ensure proper functioning.

 

We also tested the models by running different scenarios and questioning the outputs.

 

We found over 190 different areas where the models could be improved.

Findings by Category

Additional Categories

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