From that link: “Spreadsheet errors are costing businesses billions of pounds, according to a financial modeling company, which is calling for the introduction of industry-wide standards to reduce the risk of mistakes.

F1F9 estimated that 88 percent of all spreadsheets have errors in them, while 50 percent of spreadsheets used by large companies have material defects. The company said the mistakes are not just costly in terms of time and money - but also lead to damaged reputations, lost jobs and disrupted careers.”