Y2K Impact Big, Reports KPMG

Now that the hubbub about the Y2K bug is behind us, firms are analyzing the impact the millinneum bug had on companies, Web sites and the world.

KPMG recently issued their own report regarding how extensive the Y2K was, and reports that it did cause havoc on many areas, including nuclear plants, millitary satellites, some hospital equipment and even traffic lights.

What's the meaning of this for the future (forget the past!): on one hand, experts say that most of us should have paid more attention to life-threatening mishaps, like nuclear power plants. Another school of thought, naturally, is that the Y2K bug is behind us and we should get on with life.

CPAs, as a profession, are finding that the Y2K bug is mostly a thing of the past. Stay tuned as more news unfolds about how the bug affects accountants and their clients/customer base.

You may like these other stories...

Here's a CPA who truly walks the walk. On March 15, Frank Ryan, CPA, departed San Diego, California, with plans to be in Ocean City, Maryland, by July 2 to teach a course at the Maryland Association of CPAs’ (MACPA...
When Theodore J. Flynn first joined the Massachusetts Society of CPAs (MSCPA) in 1970, it was a different world and a different profession.  The "Big Eight" were still headquartered in Boston. Vietnam War...
Accountant Rickey Charles Goodrich had it a little too good. Many bean counters would kill to serve as financial guru to the likes of Pearl Jam. Goodrich was hired in 2005, and the following year, he became the CFO of Curtis...

Upcoming CPE Webinars

Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.