The Internet has been hailed as one of the most important innovations of recent times. The immense impact on society that this communications system is having is becoming ever-more apparent. As it has for many professions, the Internet has become a major tool for accountants. Internet use has become indispensable to practitioners, clients, and information users alike. The growing importance of the Internet as a way of economic life continues to build in complexity and scope. The Net Impact Study: The Projected Economic Benefits of the Internet in the United States, United Kingdom, France and Germany does not overstate the case when it avers that: “The internet stands as one of the most important innovations of our time and its impact is just beginning to be measured and understood” (Varian et al., 2002, 9).