Management Use of Internal Audit to Assure Year 2000 Preparedness

Abstract Just a few years ago, the “Year 2000 problem” was a challenge known to few outside the world of IS professionals. The “Millennium Bug” is now a creature of the popular culture, and has captured the attention of managers, regulators, Congress, and, of course, the plaintiffs' bar. With the recently revised SEC Bulletin 5, scrutiny of the Year 2000 problem will only intensify and, with it, corporate managers and directors will increasingly ask “Are we ready?” and wonder “How can we be sure?” For those inclined to look the other way, moreover, their outside auditors will most likely force them to examine those questions, especially if the company is publicly traded.