Update and audit a finance model in Excel with ChatGPT

TL;DR: Using ChatGPT for Excel's financial model Q&A and audit checklist skills, you can automatically check and clean up mechanical issues in workbooks, generate audit trails and to-do lists, and help finance teams reduce model risk before submission. ## From Problem to Solution: The Pain Points of Financial Model Auditing Financial models often drive major decisions before they’ve been thoroughly reviewed. An Excel workbook containing a financial model may underpin a forecast, a board meeting, or other critical financial decisions—yet the workbook itself may contain overwritten formulas, broken cells, or even outdated data, leading to inaccurate assumptions about the financial model itself. With ChatGPT for Excel, finance teams can now review and clean up workbooks directly in their workflow. Powered by skills such as financial model Q&A and model audit checklists, ChatGPT for Excel helps align the financial review process with how teams actually work and do business. This includes checking the financial model and applying safe fixes to the workbook. ## How ChatGPT for Excel Assists the Review Process These skills guide ChatGPT through the review just like a real human financial analyst. The steps include: - Mapping worksheet tabs - Checking formulas - Flagging issues that could impact forecasts or board presentations Throughout the process, users get a QA view before making any changes. Issues in the workbook are categorized as “important items” and “safe-to-clean items.” ## Perform Only Mechanical Cleanup, Preserve Financial Logic Next, users can ask ChatGPT for Excel to perform only mechanical cleanup, leaving judgment calls to the model owner. ChatGPT for Excel cleans up mechanical issues in the workbook (e.g., overwritten formulas, broken cells, outdated data) while preserving financial logic—and still records anything that still requires human review. ## Audit Results: New Worksheets and Risk Register ChatGPT for Excel adds new worksheet tabs directly into the file, including: - QA issue log - Applied fixes - Remaining risks Now users have a reliable workbook with formulas and modeling correctly applied. This is how ChatGPT for Excel helps finance teams reduce model risk before the workbook is submitted to leadership. ## Final Output: Clean Audit Trail and Clear To-Do List Teams no longer have to manually troubleshoot workbooks. Instead, they get a clean file with an audit trail and a clear list of items still needing review. The financial model is now more trustworthy and can be safely used for important financial decisions. --- Source: Update and audit a finance model in Excel with ChatGPT - YouTube (https://www.youtube.com/watch?v=CaBXLZyaJYU)