Y2K will not only affect the common person, but businesses (alternatively called enterprises, which includes all types of organizations), and even the worldwide economy. As Peter de Jager, Y2K expert and author of Managing 00: Surviving the Year 2000 Computing Crisis, explains, "The truth is, the Year 2000 problem will affect each of us, personally and professionally" (vi). That statement alone has led many to discount de Jager’s appeal for managers to take action on Y2K before they reach financial turmoil. Opponents contend that "lunatics" like de Jager will create mass paranoia among people of the world. I contend that Peter de Jager is not a lunatic, and that he intends to urge us to become aware of Y2K, not to become paranoid. Within the following thesis, I will explain: • what Y2K is • why it is a problem 3 • why computer programmers did what they did, ultimately causing the problem * • what might happen • Y2K’s effect on the world economy • a case analysis of Blue Cross Blue Shield of Montana and what they’re doing to prevent business shutdown • an accounting/auditing perspective, and • a conclusion, including whether I think Y2K is a problem Ultimately, I will defend the claim that Y2K is a problem, and that those expressing concern are not sounding a false alarm.