From the course: Corporate Finance: Robust Financial Modeling
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Non-technical assurance
From the course: Corporate Finance: Robust Financial Modeling
Non-technical assurance
- Having a financial model that is technically sound is only half the battle won. Have you ever developed a model that you're pretty sure is robust but the numbers just don't look right? It's a terrible feeling to have, especially when someone very senior picks this up. After a harrowing experience in 2009, I decided to add a new step into my assurance process, which I call non-technical QA, or just sanity checking. The first thing I tried was getting feedback on my model from someone who wasn't actually a stakeholder. Now, you may feel that pride is at stake here, but let me assure you, it's much better for a trusted colleague to find an error in your work than for your manager to. Another action we can take is to simply cast our eyes over the outputs of the model and ask the question, does this make sense? If you'd like to follow along with me, then please open the Excel exercise file for this video. What we have here…
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