The greatest risk associated with EUC applications over financial reporting is often the potential for calculation errors in spreadsheets. End-user computing applications, such as spreadsheets, are commonly used in financial reporting processes. However, these tools are susceptible to errors due to manual data entry, formula mistakes, or other issues. Calculation errors in financial spreadsheets can lead to inaccuracies in financial reports, potentially impacting decision-making and regulatory compliance.
Calculation errors in spreadsheets
Calculation errors in spreadsheets can pose the greatest risk to financial reporting because they can lead to inaccurate financial data and potentially serious financial misstatements. This can have significant legal and financial consequences for an organization. The other options, while important, may not directly impact the accuracy of financial reporting to the same extent as calculation errors.
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