WebTrust
With the turn of a new century accountants see the need to get involved in the ever-evolving world of computer technology and the Internet. The AICPA saw the need for assurance in electronic commerce, and they found a way for them to benefit from it. It is the WebTrust seal of assurance.Everywhere you turn more and more people are involved with the Internet. Even business are benefiting from the Internet. In 1997 estimates reported that buyers and sellers exchanged about eight billion dollars through the Internet. It is also estimated that by the year 2002 this amount will increase to over $300 billion dollars. However, these numbers could be substantially higher if people were more comfortable with conducting their business through the World Wide Web. Customers think of Web businesses as faceless companies. They are afraid to give their credit card and other personal information online. A recent survey showed that 91% of people who surfed the web are unwilling to give out personal and financial information, and 85% don't want to use their credit cards online. Web surfers need some type of guarantee that the web company is legal and the transactions will be carried out as agreed upon, and that the personal i
After completing this process CPA's are then certified to perform the WebTrust assurance services. There are different types of situations that are looked at through transaction integrity. The subjects had to make their own assumptions about what the seal represented. CPA must verify that these controls are in place and functioning properly. Subjects had to examine an e-commerce website for the purpose of buying a product online. Their willingness to change their buying habits and how well they perceive the WebTrust program. To encourage customer confidence in shopping online, it is important that the customer is aware of the company's business practices for electronic commerce transactions. Reviewing business practice is normally a matter of judging standards and procedures. In order to keep up with the technological advances CPA firms are looking into ways to maximize the range of their services. The website must disclose its operating practices and follow them as they have stated them, the business has to have controls in place for processing electronic transactions correctly, and the information that is provided over the internet is used for business purposes only. The WebTrust seal was displayed on each page, but no information about the seal was given. The CPA WebTrust first criteria, business practice, deal with this type of situation. WebTrust is not intended to provide assurances about the quality of the company's products or services or to approve its business practices it just needs to makes sure that they follow the practices that they say they will. ------------------------------------------------------------------------**Bibliography**.
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