You are an accounting intern at Joseph Enterprises. Recently, an error in an accountant’s spreadsheet caused a loss of over $100,000 on a company bid. The controller has come under increasing pressure from the CFO to impress upon all the accounting professionals the importance of error-free spreadsheets. The controller has asked you to go online and search for cases of spreadsheet errors that had a significant adverse impact.

Write an email to the controller summarizing your findings that he can use for training purposes. Apply the top 10 tips for spreadsheet risk management to develop an action plan for Joseph Enterprises to prevent such errors in the future.