The Web has captured the attention of businesses and consumers, causing the number and types of electronic transactions to grow rapidly. Nevertheless, many feel that electronic commerce will not reach its full potential until customers perceive that the risks of doing business electronically have been reduced to an acceptable level. Customers may have legitimate concerns about transaction integrity, control, authorization, confidentiality and anonymity. In the faceless world of electronic commerce, participants need the assurance of an objective third party. This assurance can be provided by an independent and objective Chartered Accountant (CA) and demonstrated through the display of a secured WebTrust seal.

The WebTrust Seal of assurance symbolizes to potential customers that a CA has evaluated the Web site's business practices and controls to determine whether they are in conformity with the CA WebTrust Principles and Criteria for Business-to-Consumer Electronic Commerce, and has issued a report with an unqualified opinion indicating that the Web site is operated in conformity with the WebTrust Principles and Criteria.

CAs are in the business of providing assurance services, the most publicly recognized of which is the audit of financial statements. An audit opinion signed by a CA is valued because these professionals are experienced in assurance matters and financial accounting subject matter and are recognized for their independence, integrity, discretion and objectivity. CAs also follow comprehensive ethics rules and professional standards in providing their services. However, financial statement assurance is only one of the many types of assurance services that can be provided by a CA. CAs also provide assurance about internal controls and compliance with specified criteria. The business and professional experience, subject matter expertise (electronic commerce information systems security, auditability, and control) and professional characteristics (independence, integrity, discretion, and objectivity) needed for such projects are the same key elements that enable a CA comprehensively and objectively to assess the risks, controls, and business disclosures associated with electronic commerce.