Competency Considerations

Application of Current Skills and Knowledge. CPAs have the ethical standards and principles needed to evaluate and provide assurance as to the trustworthiness of electronic commerce systems. CPAs have skills in evaluating evidence, determining the effectiveness of internal controls, and reporting to third parties on the results of the work performed.

New Skills and Knowledge May Be Required. CPA firms and CPAs in industry may require additional competencies in addition to those from the traditional accounting, audit, and tax arena in order to provide services related to WebTrust. In order to deliver WebTrust-related advice or assurance, CPAs may need to use automated techniques. Firms will have to develop or acquire software agents, sensors, and other technology based tools—or outsource such activities. Some additional skills and knowledge will include information technology and digital communications, encryption and digital-signature principles, and high-volume information storage and retrieval. It is up to the individual CPA to determine whether or not sufficient competency exists in according with professional standards in order to perform these services.