The Year 2000 is coming and whether it will be the much talked about catastrophe or not is still unclear. However, business managers and IT specialists finally agree that the Year 2000 is not simply a data processing issue, but one of business survival. Auditors have access to many of the business applications, knowledge of the data, and specialized audit software tools. As a result, they are uniquely placed to assist management in addressing what is likely to be the single most important threat to the business environment in many years. The answer is more complicated.
Auditors can make a significant contribution in all four phases.
Auditor's Role Auditors should be prepared to support management in addressing the Year 2000 problem in what ever way they can. In organization that have not started to deal with the Year 2000 issue, auditors should immediately endeavor to make people aware of the nature and possible magnitude of the problem. Auditors can hold information sessions, performed a limited assessment of the impact, and conduct research into the Year 2000 problem. The identification of critical business systems is the second area where audit can be of assistance. Often audit will have knowledge of the many and diverse business systems.