Enforcement of Y2K disclosure is stagnating
During the summer and fall of 1998, a nervous clamor was beginning to build as the potential consequences of the year 2000 computer bug were debated.
At the time, corporate disclosure of Y2K-related issues was under attack. In the US, the Securities and Exchange Commission issued a stinging rebuke to companies following the dismal results of a disclosure study conducted by its Year 2000 Task Force. Pressure also increased in the UK, where the Accounting Standards Board and its Urgent Issues
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