CPAs and others working in Y2K consulting for clients and employers can rest assured that all is well in byte land. In what was considered the first true test in preparation for the Y2K bug, computer systems around the world made it over the hurdle on Thursday via the critical 9/9/99 date function.
The series of four numbers was considered important because the code could have kicked in a "stop gap" ability, or could have prevented data on computers from being processed. The next, important dates are, naturally, 1/1/2000, but also include 1/29/2000 due to Leap Year, as well as 10/10/2000, the first "eight-digit" date in the next century.
One industry threatened by the Y2K bug is banking based on the immense number of networks and systems. The Global 2000 Co-ordinating Group representing 700 banks around the world said that there were no real surprises on 9/9/99.