Model Review Checklist Template (Excel XLSX)

BENEFITS OF DOCUMENT

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.

DESCRIPTION

This product (Model Review Checklist Template) is an Excel template (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

The template is meticulously designed to ensure comprehensive coverage of all aspects of financial model review. It includes sections for model features and technical integrity, providing a structured approach to identify and address potential issues. The clear categorization of comments and statuses helps streamline the review process. This tool is essential for maintaining high standards in financial modeling, ensuring accuracy, and enhancing the reliability of your financial analyses.

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