Y2K Impact Big, Reports KPMG

Posted by accountingweb on Feb 16 2000 220 printer friendly

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.

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