The FAST Standard is a set of rules providing guidance on the structure and design of efficient spreadsheets.
This set of rules provides:
i) A clear route to good model design for the individual modeller; and
ii) A common style platform enabling modellers and reviewers to work efficiently when passing models amongst themselves.
The purpose of the FAST Standard is to establish a continuously updated and highly developed guideline for building financial models that creates a shared global language. These recommendations are anchored in the belief that models should be Flexible, Appropriate, Structured, and Transparent.
The FAST Standard has been developed through the collaborative participation of professional financial modellers across the globe.
Pioneered by John Richter and Morten Siersted in 1999, thousands of professional modellers have since contributed to the continuous updating and improvement of the FAST Standard to produce a clear and concise code for effective financial modelling.
In 2011 the FAST Standard Organisation Limited (FSO) was established to own, maintain and further develop the standard. The FSO is managed with the guidance of the Advisory Board and Moderation Board.
The role of the Advisory Board is to advise the FSO in matters relating to its objectives specifically to promote, develop and protect the FAST Standard. The role includes advising the directors of the organisation on matters relating to its governance, how it generates revenue and matters relating to membership, accreditation and certification programmes.
Current advisory board members are:
Ian Bennett (PwC)
Jerome Brice (Mazars)
Kees Hörchner (Rebel)
Kenny Whitelaw-Jones (F1F9)
Morten Siersted (F1F9)
Phillip Woolley (Grant Thornton)
The FAST Moderation Board advises the FSO on revisions to the FAST Standard, including the publication of new versions of the FAST Standard.
Current Moderation Board members are:
Andrew Berkley (F1F9)
John Richter (Financial Mechanics)
Robert-Jan Bakker (APG)
Stephen Hanson (PwC)
Stuart Smith (Grant Thornton)
Tom Brichieri-Colombi (Mazars)