Model Review Lab

A model that passes every test it sets itself.

A working demonstration of independent model review. The model below is fictional and contains five errors of the kinds we find in practice. Run each check and see what it changes.

The sponsor's model

Healthy on the summary page.

How we review

Rebuild independently

We do not audit a model by reading it. We rebuild the calculation from the stated inputs and compare the two, line by line, until every difference is explained.

Test the tests

A covenant check, a break-even test, or a sensitivity table is itself a formula. We push its inputs to extremes to confirm that it can actually fail.

Report plainly

Each finding is stated with its effect on the result, whichever way it points. Some errors flatter a project and some understate it; both change the decision.

The project, the model, and its figures are fictional and built for this demonstration. The five errors are illustrative of the kinds found in practice and are not drawn from any client model. Nothing on this page is investment, lending, or financial advice.