European Monetary Union: Legal Compliance Information Technology Systems. Apres 'le Weekend'

Abstract

A number of articles have been written about IT law aspects of the euro, and there is the implication that there is something special about euro implementation from the IT law point of view. While there are particular issues arising with the rounding and conversion rules, the conclusion in this article is that, even though the euro is not 'just another currency', a euro IT project is just like most other complex IT projects … only more so. A euro IT project for a multinational in Europe could be as big as any which that company has yet handled, because it may well involve the introduction of entirely new financial and accounting systems. For that reason, customers should follow proper contractual and project procedures. Suppliers should be careful about what they include in their warranties and specifications and should avoid over-general or overgenerous warranties. In response, end-users must allow as much time as possible, make the effort to scope their requirements, to understand what they need, and to make sure that their contracts and schedules capture all those needs.