Cyrmru Capital Investments - Coursework Example

Such complicacies can be witnessed from the difficulty an organization faces while transferring financial data from its existing spreadsheets to the newly structured ones. Moreover, the risk related to data alternation and corruption also prevails within this tool, making it quite hard for the organizations of this modern-day context to transfer accounting data stored within the spreadsheets in an interdepartmental fashion (Baxter, 2006).With this concern, the provided context illustrates a midrange investment banking organization named Cyrmru Capital Investments (CCI), which is involved in using spreadsheet technology for handling all its financial and operational functions.

As a matter of fact, it is quite obvious that the organization undertakes a considerable amount of vulnerability upon itself in the form of occurring varied fraudulent acts in a frequent manner (Baxter, 2006). From the background provided, it has been quite apparent that the organization is subjected to multiple complaints from the user side regarding higher levels of system inflexibility and delayed operations. Considering these issues, the discussion will specifically focus upon understanding the potential functionality risks linked with spreadsheet usage and how the continued reliance of CCI over its 50,000 operational spreadsheets might turn out to be jeopardy against its maintenance of long-term survival in this competitive financial market.

Rest apart, the discussion will specifically rely upon the report outcomes projected by the auditors based upon which suggestive strategies will be provided with the prime intention of improvising the flexibility and security associated with the spreadsheet usage by CCI. In addition, an attempt will be made on analyzing the prevalent risk factors and loopholes persisting within the information system (IT) structure of these banking organizations, which might create higher levels of complexity associated with its regular functionalities.