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Model Review Checklist Template (Excel XLSX)

File Type: Excel workbook (XLSX)
Secondary File: PDF (PDF)


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Immediate digital download upon purchase.
Lifetime document updates included with purchase.
Completely editable & customizable XLSX document.
Supplemental PDF document also included.
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  1. Our checklist is intended for anyone reviewing any kind of financial model prepared by a third party.
  2. It follow best practice for financial modelling.


This product (Model Review Checklist Template) is an Excel workbook (XLSX) with a supplemental PDF document, which you can download immediately upon purchase.

Our checklist is intended for all kinds of financial models: M&A models, valuation tools, liquidity forecasts. You name it. It covers standard checks, which are applicable for all financial models like the following:

•  Which financial modelling standard was applied?
•  Is the model's structure fit for its purpose?
•  Is there a clear distinction between ‘Input', ‘Calculations' and ‘Output' sections?
•  Was a consistent color coding applied throughout the model?

And of course there is plenty of space to document any other model-specific findings.

The checklist is intended for all finance professionals, who act as a reviewer of a financial model prepared by a colleague or a professional advisor. Regardless if it is a high-level review or an in-depth model audit.

Use of the template
You may download the Excel template and take the following five steps:
1. Copy the checklist to the financial model under review
2. Carry out topics listed in section ‘I. Standard checks for all Financial Models'
3. Add more line items for all worksheets under review and your comments in section ‘II. Specific comments on worksheets'
4. Document your findings and the replies of the model owner
5. Track the process of the review until 100% of the issues are closed

Got a question about the product? Email us at support@flevy.com or ask the author directly by using the "Ask the Author a Question" form. If you cannot view the preview above this document description, go here to view the large preview instead.

Source: Best Practices in Financial Modeling Excel: Model Review Checklist Template Excel (XLSX) Spreadsheet, Olaf Kiel, CFA, AFM


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File Type: Excel xlsx (XLSX)
File Size: 19.4 KB

Initial upload date (first version): May 24, 2023
Most recent version published: May 25, 2023


Author: Olaf Kiel, CFA, AFM

I am a seasoned consultant with 20+ years of professional experience. After working as a senior manager with top tier accounting firms in both Switzerland and Germany, I founded my own business in 2014. Olaf is a trusted partner in all financial modelling and valuation related matters.

He is a CFA charterholder since 2004 and an Advanced Financial Modeller (AFM) since 2023.

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