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Some auditors verify a spreadsheet model by building a new one and reconciling the differences between the two.
Steps in the process where OAK may be useful are
| 1 | Summarize workbook, which will prepare a table providing the main statistics of the workbook: number of worksheets, distinct formulas and so on. This is valuable in estimating how much effort will be involved in reviewing the spreadsheet. |
| 2 | OAK can prepare concise reconstructions of fragments of the spreadsheet that perform particular calculations, giving some idea of what a segment of a model is seeking to do, and identify the inputs it uses, which can guide the reconstruction process. |
| 3 | Where the rebuilt model gives a different answer from the one being tested, OAK can analyze the discrepancy between the two and identify its origin. |
| 4 | Summarize workbook will deliver a list of all the values that serve as inputs to the model. These are candidates for checking one by one against any model data book or other description that has been provided of the model's assumptions. |
| 5 | Compare workbooks/worksheets, to understand how a new version of the model, which needs to be checked, differs from an older version that has been checked already. |
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