To mitigate the risk of using a spreadsheet to analyze financial data, IT has engaged...

 According to the CRISC Review Manual1, the business owner is the person who has the authority and accountability for the achievement of the business objectives and the managementof the associated risks. The business owner is ultimately responsible for ensuring that the IT services and solutions support the business needs and goals, and for accepting or rejecting the residual risks after the implementation of risk responses. Therefore, the business owner should own the risk associated with calculation errors, as they are the ones who will be affected by the potential impact of the errors on the financial data and decisions. References = CRISC Review Manual1, page 194.