WebTrust/SysTrust Licensing

  • Independent Verification by Trusted Professionals gives your business a competitive advantage
  • A global standard means your business can operate more effectively in new markets
  • Reduces concerns of consumers, businesses, and business customers so you acquire and retain business
  • Can convert shoppers into online buyers and lower your sales transaction costs
  • Taps the experience and reputation of respected e-Commerce business and technical advisors around the globe

The e-Commerce company that has its practices independently verified can expect certain benefits. The Harris Interactive study found that:

  • 91% would buy more goods and services if the e-Commerce site's practices were verified
  • Over half-58%--would be willing to recommend the site to friends and relatives

Independent verification also avoids certain risks. According to the Harris study, 83% of consumers will stop doing business with an e-Commerce site that fails to live up to its promises.

How SysTrust and WebTrust Work

WebTrust is designed to enhance confidence among sellers and buyers alike. Here's why.

Reduces Risk and Provides Assurance to Management and Boards

A SysTrust/WebTrust attestation engagement focuses on risk areas related to e-commerce activities and the appropriate policies and controls to manage those risks to the benefit of both the entity and the entity's customers. The end result is a more robust and secure system.

A comprehensive, thorough review by qualified specialists can provide that extra level of comfort, as well as insightful 'best practices" advice that can mitigate the risks of e-commerce.

CPAs, Chartered Accountants, and their equivalents world wide are recognized as trusted, independent third parties who can assure the accuracy and fairness of financial and non-financial information. Accounting firms have built reputations as experts in the area of assurance, privacy, security, and transaction testing. Firms large and small have been recognized through rewards and as service providers for their competence in these areas. In fact, certain other Internet trustmark programs employ accountants as part of their service.

Unlike other seal programs, SysTrust and WebTrust require accountants to conduct an independent examination that carries the professional equivalency of a financial statement audit.

Builds Confidence and Trust for Customers and Visitors

Seeing the SysTrust/WebTrust seal on a site alerts customers and visitors that the e-commerce business complies with the criteria that are among the highest in the world.

Who Provides SysTrust/WebTrust Services

CPAs, Chartered Accountants, and their equivalents world wide are recognized as trusted, independent third parties who can assure the accuracy and fairness of financial and non-financial information. Accounting firms have built reputations as experts in the area of assurance, privacy, security, and transaction testing. Firms large and small have been recognized through rewards and as service providers for their competence in these areas. In fact, certain other Internet trustmark programs employ accountants as part of their service.

In preparing your site for SysTrust/WebTrust, you—like numerous other business managers—can benefit from your CPAs' (Certified Public Accountant), Chartered Accountants', or equivalent accounting professionals' tremendous depth of knowledge about e-Commerce Best Practices, business planning, financing sources, and management.

Your CPA can also provide technical support in areas ranging from online strategy to site design to operations.

In short, your CPA is a one-stop solution for a diverse set of electronic commerce needs.

A SysTrust/WebTrust seal will only be awarded when a site completely passes the examination by a licensed CPA, Chartered Accountant or equivalent based on the Trust Services criteria.

What to Do Next

Contact your CPA, Chartered Accountant, or equivalent worldwide to learn more about these standards and how you can apply them to your business.

For more information, please contact Brian Loney at brian.loney@cica.ca or (416) 204-3262 or Bryan Walker at bryan.walker@cica.ca or (416) 204-3278.