Hi Marko!
Validation will depend upon the contents of the worksheet. In general
terms it is a process of cross checking all of your data and
calculations. I think that the regulators will have some specific
validations in mind and it might be best to ask them what they are.
Typical financial formula validation might include cross checking that
the NPV equals the sum of the present values. That validates that your
NPV calculation accords with institutional definitions and exposes
problems that arise if blank cells, upper case O or other text entries
have been inserted in the cash flow. Similarly with IRRs you need to
cross check that the sum of the PVs discounting at the IRR is equal to
zero.
There might be more general validation of data entries to ensure that
text entries of values have been brought into calculations.
But I suppose there are other validation requirements and the
regulators may well have a checklist that you can refer to.
--
Regards
Norman Harker MVP (Excel)
Sydney, Australia
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