| name | audit-xls |
| description | Audit a spreadsheet for formula accuracy, errors, and common financial-model mistakes. Use for selected ranges, single sheets, or whole-workbook model checks including balance-sheet balance, cash tie-out, roll-forwards, and logic sanity. |
| metadata | {"short-description":"Audit spreadsheet formulas and financial models"} |
Audit Spreadsheet
Use this skill when the user asks to audit a workbook, check formulas, find spreadsheet errors, QA a financial model, debug why a model does not balance, or sanity-check Excel output.
Step 1: Determine Scope
If the user already gave a scope, use it. Otherwise ask which scope to audit:
- selection: just the currently selected range
- sheet: the current active sheet only
- model: the whole workbook, including financial-model integrity checks
Use model scope for DCF, LBO, three-statement, merger, comps, or integrated financial models before sending to a client, controller, or investment committee.
Step 2: Formula-Level Checks
Run these for every scope:
| Check | What to look for |
|---|
| Formula errors | #REF!, #VALUE!, #N/A, #DIV/0!, #NAME? |
| Hardcodes inside formulas | Constants embedded in formulas that should be inputs |
| Inconsistent formulas | A formula that breaks the pattern of neighboring rows or columns |
| Off-by-one ranges | SUM or AVERAGE ranges that miss first or last rows |
| Pasted-over formulas | Cells that should contain formulas but contain hardcoded values |
| Circular references | Intentional or accidental loops |
| Broken cross-sheet links | References to moved or deleted cells |
| Unit and scale mismatches | Thousands mixed with millions, or percent values stored inconsistently |
| Hidden rows or tabs | Overrides or stale calculations hidden from normal review |
Step 3: Model-Integrity Checks
For model scope, identify the model type and run the relevant checks.
Structural review:
- Inputs, calculations, and outputs are separated.
- Color conventions are used consistently.
- Tabs flow in a logical order.
- Date headers and units are consistent.
Balance sheet:
- Total assets equal total liabilities plus equity in every period.
- Retained earnings roll forward from prior retained earnings plus net income less dividends.
- Goodwill and intangibles flow from acquisition assumptions when relevant.
Cash flow:
- Cash flow ending cash ties to balance-sheet cash.
- CFO plus CFI plus CFF equals change in cash.
- D&A, capex, and working-capital changes tie to supporting schedules and signs.
Income statement:
- Revenue ties to segment or product detail.
- Tax expense is reasonable against pre-tax income.
- Share count ties to dilution schedules when relevant.
Model-specific checks:
- DCF: discount timing, terminal value discounting, WACC basis, unlevered FCF, tax shield treatment.
- LBO: debt paydown, PIK accrual, rollover treatment, exit EBITDA basis, fees and expenses.
- Merger: accretion/dilution share count, synergy phase-in, purchase price allocation, sources and uses.
- Three-statement: working-capital signs, depreciation to PP&E, debt maturity schedule, dividend logic.
Step 4: Report
Return a findings table:
| # | Sheet | Cell/Range | Severity | Category | Issue | Suggested Fix |
|---|
Severity:
- Critical: wrong output, broken formula, balance sheet does not balance, cash does not tie.
- Warning: risky hardcodes, inconsistent formulas, edge-case failures.
- Info: style or best-practice issues.
For model scope, prepend:
Model type: <type> - Overall: <Clean / Minor Issues / Major Issues> - <N> critical, <N> warnings, <N> info
Do not change the workbook without asking. Report first, then fix only on request.
