A typical financial model is packed with formulas extending in all directions, referencing cells that may be nearby, on a distant part of the sheet, or even in a different worksheet entirely. Not all financial models are built on industry best practice, so modellers and auditors often struggle to trace formulas and understand their composition. Unfortunately, Excel doesn't provide an intuitive way to navigate distant references within a formula.

How an easy self review can be conducted with map file of the workbook, explained here with details on what kind errors can be detected. It is gold standard in detecting formula inconsistency, which plagues many models. So, as a manager this is a must have utility for your team involved with financial models build or review.

Why do financial models become more complex? Have you come across the situation where after doing the complex calculations you realize that it is of no use? Should you include everything all kinds calculations, balance, permutation / combinations without knowing the end goal of the model?