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Originally published: 30/05/2018 16:44
Last version published: 08/08/2019 08:34
Publication number: ELQ-23725-5
View all versions & Certificate

Financial Model audit check list - spreadsheet

This is an audit or productivity tool that you can use while reviewing someone else’s models.

by FinExMod
Financial modelsFollow 36

32 reviews1,498 views|6 comments|Bookmark download for free

financial modelingtoolsproductivityfinancial modelersfinancial model auditfinancial model reviewfinancial model review checklist

Description
All projects are different and have their own specific issues so it’s not possible to generalize all issues related to projects of different natures.

Throughout the years reviewing financial model, I realized that there some issues that comes up in almost all projects. So I made a checklist and when I do the first round of check, I open this spreadsheet and go over this list one by one.

It is certainly not an exhaustive list and it should be the start of a conversation about what you should be looking for when reviewing a financial model and will help you to be faster in preparing you preliminary report on the financial model.

The first set of issues in the checklist are the “Mechanical checks” meaning things like color coding, format, integrity and basically an overall check on compatibility of the financial model with the best practice financial modelling standards. Then it dives into typical financial model assumptions like "Key timing", "Capex", "Opex", Technical", "Financing" and etc.
The last section deals with the financial statements, and main metrics and model results.

For a more detailed look at each of these topics and more, check my book available on Eloquens:
https://www.eloquens.com/tool/nJVLtz7k/finance/financial-modeling-courses-tutorials/financial-model-detective-book-hints-and-tricks-on-how-to-review-project-finance-models

This Best Practice includes
Excel file

FinExMod offers you this Best Practice for free!

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Reviews

• • 
    4.7 / 5 (32 votes)

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• Luay Albraim, CMA(last updated: 21/01/2020 11:20)
  
• Mohammad Nuruzzaman ACS(last updated: 15/01/2020 05:55)
  
• Adriano Antonio Nuintin(last updated: 18/12/2019 15:40)
  
• Adelaide Muthang'i(last updated: 19/11/2019 06:03)
  
• Jagan Ganti(last updated: 29/10/2019 12:55)
  
• Nargiza Mirzarahimova MRICS(last updated: 24/10/2019 06:50)
  
• Jonathan Melendez(last updated: 24/10/2019 06:12)
  
• Prince Chakax(last updated: 24/08/2019 16:49)
  
• Gajanan Bochare 800(last updated: 21/08/2019 02:48)
  
• Freddy Teyssieux- Finteam(last updated: 13/08/2019 08:51)
  

  Great file

  The file is exhaustive and easy-to-use. Nice work !
• Aek Ninchuawong(last updated: 09/08/2019 14:38)
  
• Shashi Shekhar kumar(last updated: 24/07/2019 06:13)
  
• Usama Abuzar(last updated: 19/07/2019 06:07)
  
• Christopher Fang CPA(last updated: 08/07/2019 23:25)
  
• Kranti K(last updated: 14/06/2019 07:58)
  
• Presley Sakwa(last updated: 26/04/2019 13:02)
  
• Panagiotis Nikolaou(last updated: 13/03/2019 18:54)
  
• JSK2(last updated: 04/03/2019 08:02)
  

  Perfect!

  I think this is a must have for reviewing templates...
• Axing Xing(last updated: 11/02/2019 14:33)
  
• Abdul Ghafur BE, MCIOB, AClArb, CQS,610(last updated: 09/02/2019 08:07)
  
• Andrew Murray(last updated: 24/01/2019 22:38)
  
• Lmichel(last updated: 10/01/2019 19:03)
  
• Blazen Minic(last updated: 08/01/2019 12:05)
  
• pbasik(last updated: 16/12/2018 17:20)
  
• Syed Aoun Muhammad(last updated: 24/11/2018 19:48)
  
• Odugbemi Oladele(last updated: 31/10/2018 15:04)
  

  Excellent

  Nice
• FinWizz(last updated: 23/10/2018 07:09)
  
• Victor Pedro Matebvu(last updated: 17/10/2018 16:07)
  
• gl aditya(last updated: 10/10/2018 10:11)
  
• Gabriel Adetayo(last updated: 19/06/2018 08:49)
  

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• 

  FinExMod 1 month ago
  Downloadable Tool Authorstar

  I want to thank you for your interest and support in my work throughout the year 2019 in our great Eloquens community.
  
  To thank you, I want to share with you a spreadsheet that I use to look ahead and focus on what I want for the next year and plan for it.
  
  https://www.eloquens.com/tool/5MB7fQXB/leadership-hr-human-resources-tips-and-methods/productivity/smart-to-do-list
  
  I wish you happiness and success for this Christmas and the year to come.
  
  And I’ll be in $touch$ with you with you next year.

  arrow_drop_uparrow_drop_downReply reply
• 

  Hedieh Kianyfard 1 month ago
  Eloquens Authorschool

  Hope you are doing great!
  Just want to let you know that I just published a new tool on one of the most critical components of any financial model and that is:
  Building integrity checks
  
  Download the excel template and manual here on Elequens:
  https://www.eloquens.com/tool/wmjEi0N4/finance/project-finance-models/building-integrity-checks-in-project-finance-models-manual-template
  
  Wishing you a safe, joyful, and blessed holiday season.
  
  Stay $locked$ and happy modelling.
  
  Hedieh

  arrow_drop_uparrow_drop_downReply reply
• 

  Hedieh Kianyfard 3 months ago
  Eloquens Authorschool

  Thank you SO very much for downloading the Project Finance financial model checklist.
  
  I have also published a book around the same topic and I explain in an easy and step-by-step approach how you can review a typical project finance model. I talk about mechanical checks, things you need to watch out for in the assumptions and the metrics and results that you want to see in a standard financial model.
  
  You can get my book either from Amazon or here at Eloquens.
  
  https://www.amazon.com/Financial-Model-Detective-tricks-financial/dp/1074174607/ref=sr_1_1?crid=3F64EUH1L3HXI&keywords=financial+model+detective&qid=1571657299&sprefix=financial+model+de%2Caps%2C217&sr=8-1
  
  If you have already bought the book please leave an honest review. It'll help me a lot.
  
  Finally,
  
  I’m so honored to have you as a user of this tool.
  
  Please let’s stay in $touch$! And in the meantime happy modelling!

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  • 

    Jagan Ganti 2 months ago
    Downloadable Tool Useredit

    Hi, I purchased the ebook on Kindle, unfortunately the paragraphs are all jumbled up - its not making sense. I was quite eager to study your book but its seems Amazon has not done a good job. Is there any way you could help me?

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    • 

      Hedieh Kianyfard 2 months ago
      Eloquens Authorschool

      Hi Jagan,
      
      Thanks for letting me know about the issues you are having with the Kindle version of the Financial Model Detective Book. I'll look into it.
      
      I'll send you a coupon to download the PDF version here on Eloquens.
      
      Thanks,
      
      Hedieh

      arrow_drop_uparrow_drop_downReply reply
• 

  Hedieh Kianyfard 2 months ago
  Eloquens Authorschool

  Hi there,
  
  Just to let you know that I recently released two tools that will help you build sensitivity and scenario analysis into your financial models.
  You can find the version using DataTable from the below link:
  
  https://www.eloquens.com/tool/QkrkFG2G/finance/sensitivity-analysis-excel-templates-and-methods/sensitivity-analysis-template-using-data-table
  
  And I uploaded a revised version of the same template but this time using VBA . Here’s where you can get the tool:
  
  https://www.eloquens.com/tool/aAJEF2nD/finance/sensitivity-analysis-excel-templates-and-methods/sensitivity-and-scenario-analysis-excel-template-with-vba
  
  Of course, if you have questions or comments — just hit reply and I’ll be happy to hear from you.
  
  Thank you so much for downloading, commenting and sharing.
  
  Best regards,
  
  Hedieh

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