Compassoft CEO Paul Bach to Provide Keynote on Enterprise Spreadsheet Control at 2007 EuSpRIG Conference

Scotts Valley, CA – June 12, 2007 –  When the 8th annual conference of The European Spreadsheet Risks Interest Group (EuSpRIG) convenes in London, July 11-13, leading authorities on enterprise spreadsheet risk will gather to discuss ways that companies can protect themselves from a host of common spreadsheet errors or even fraudulent manipulation of data before such problems impact revenues and profits, affect regulatory compliance filings, or lead to pricing errors and poor decision-making.  Compassoft, the leader in enterprise spreadsheet control with over 160 customers worldwide, is the main sponsor of the conference, entitled “Enterprise Spreadsheet Management: A Necessary Evil.” Compassoft CEO Paul Bach will present a keynote outlining the state of technology identifying and managing spreadsheets in enterprise environments.

The Invisible Applications that Can Cost Millions
“Software solutions must factor into any discussion about spreadsheet risk because it is only through automation that large companies can continuously document, evaluate, and test controls against the thousands of end-user computing applications such as spreadsheets that reside on their servers and employee’s desktops and laptops,” said Paul Bach, CEO of Compassoft.  “These user-developed spreadsheets are rarely subjected to the same controls and governance of the larger, centralized systems, yet they contain staggering amounts of sensitive data — data that can expose companies to serious financial and regulatory-compliance breaches.”

The EuSpRIG Agenda
“The participants will table solutions that address the prevalence and impact of uncontrolled spreadsheets in the business environment today,” said Patrick O'Beirne, chair of EuSpRIG. “EuSpRIG has been tracking public reports of spreadsheet errors since 1999, and our conferences provide a forum for participants to discuss and find solutions to counter these risks that can compromise regulatory filings and cost companies millions of dollars in lost revenues.”

Presentations by Industry Leaders
There are 18 papers and presentations at this year’s conference, highlighted by industry-leading speakers:

• Paul Bach, CEO of Compassoft, will outline the state of technology for quality control and compliance of spreadsheets in enterprise environments;
• Ray Panko, Professor of IT Management, University of Hawaii, has spent years researching and writing about spreadsheet errors, and is often quoted by the international business press.  He will discuss his latest research;
• Dean Buckner of the Financial Services Authority will provide an update on spreadsheet regulation in financial markets. The FSA is an independent non-governmental body given statutory powers by the UK Financial Services and Markets Act 2000.

8th EuSpRIG Annual Conference
The 8th EuSpRIG Annual Conference will be held at the University of Greenwich in London from July 11-13, 2007.  The Conference Web site is at: http://www.uwic.ac.uk/eusprig/2007/

About EuSpRIG
EuSpRIG is an organization dedicated to informing organizations about the material commercial and financial risks involved in the uncontrolled use of untested spreadsheets created by end-users who are not experienced in developing information systems. EuSpRIG is a not-for-profit organization governed by an elected committee operating under the terms of a written constitution. Committee members include senior managers and directors of leading accounting firms and senior academics from European Universities.

About Compassoft
Today, more than 160 major corporations worldwide — across a broad range of vertical markets — use Compassoft, Inc. for the discovery, validation, monitoring and control of end-user applications. Compassoft, a venture backed software firm based in Scotts Valley CA, has won numerous awards for its technology and holds several US and international patents on its technology. Representative customers include each of the Big Four accounting firms, ABN AMRO, Allied Irish Bank, Bruce Power, CitiGroup, EchoStar, HP, Lloyds TSB, PWC, Prudential, Sydney Futures Exchange, Tulane University, Tyson and Venetian Casinos. For more information, please visit www.compassoft.com.

* * *

Julia Glenister, JAG Wire Group
Tel: (415) 459-3688; Cell: (415) 246-6075
compassoft@jagwiregroup.com