Westminster Ebury Bridge Regeneration – Model Audit

The Assignment

31ten was engaged to audit the financial model underpinning the delivery of the 781-home Ebury Bridge estate regeneration project. This work was carried out at model handover stage, when the Council sought assurance that the model was accurate, reliable, and ready for internal use.

The Role

Given the model’s scale, 31ten first mapped its structure to establish its flow and functionality. This understanding guided the deployment of several audit techniques, including:

  • Testing all input sections (including those currently unused) with dummy data.
  • A review of the overall approach taken by the model.
  • Conducting detailed formula checks on key sections.
  • Performing formula consistency checks.
  • Creating a live summary sheet to ensure alignment of totals across sections.
  • Conducting manual sense checks of key dashboard items and outputs.

The approach and level of checks were clearly communicated to the client, ensuring transparency about the audit’s depth and scope.

During the audit, findings were categorised by importance into a log file. These ranged from ‘nice to have’ improvements to critical ‘calculation error’ items, allowing effective prioritisation of future model changes. Our overall view on the model’s accuracy was also detailed to provide the client a high-level summary.

Key Outcomes

The audit identified actionable changes to enhance the model’s accuracy, usability, and overall robustness. 31ten engaged with the model’s creator to support the swift finalisation of the model. Through close collaboration with 31ten, the Council gained the confidence to adopt the model in-house, equipped with clear insights into potential risk areas and improvement opportunities.