Companies may also face government action or fines for failing to comply with regulations governing its operations or particular industry. Companies need to keep in mind as well that a failure to file tax returns or complete other statutory filings will probably not be excused if the failure is caused by a year 2000 problem that the company could have corrected or worked around.

CONCLUSION

All companies must stay on top of the year 2000 issue and investigate, test, correct or work around potential problems - at all levels of their operations, including supply chains, premises and critical customers. This is necessary obviously to keep their business operating, but it also required to keep the company and its directors from facing law suits from customers, investors, bankers and suppliers for failing to take reasonable steps to keep their business from becoming a victim of the year 2000 bug.

No one can accurately predict the number of claims that will ultimately arise from the year 2000 problem, but they will happen and companies that have taken a responsible approach to the issue will be in a much better position to successfully defend against what may come their way.

Please read on, the author has included in the next section a Year 2000 Task Force Checklist.

"The Who, What, When and How"

At the conclusion of the next section the reader can review recent speeches given and publications written by Amy-Lynne Williams.

Continue to Section 2
Y2K Task Force Checklist