Despite the explosion in Internet-based product and service offerings, many consumers are unsure which sites they can trust. Security and privacy are two of the greatest concerns as lack of regulation in the new media and stories of stolen credit cards and personal information are scaring possible customers away. Consumers are frequently unable to confirm the legitimacy of Web-based companies.

A new Internet seal of approval is now available in the Republic. through Cork chartered accountants Parfrey, Murphy. The WebTrust logo is similar to the WebTrader symbol granted by Which, the British Consumers' Association.

When a WebTrust logo appears on a site it means that the company has complied with the three broad principles of the logo programme: business practices disclosures, transaction integrity and information protection.

This independent verification concept originated in the US with the CPA WebTrust seal authorised by the American Institute of Certified Public Accountants (AICPA) and Canadian Institute of Chartered Accountants and is now available in Ireland, England and Wales. The Institute of Chartered Accountants in Ireland granted the WebTrust licence to Parfrey, Murphy.

Seal issuers must receive training before qualifying to undertake the verification programme. Applying recently developed assurance standards, the qualifying accountancy firm will assess an entity's website to ensure it meets the criteria. When the process is successfully completed, a report indicating the site's compliance is issued and the site is granted the WebTrust seal. Consumers may click on the seal to view the report, which must be updated quarterly by the granting accountant or accounting firm.

To be successful in the review, websites must disclose business practices for e-commerce transactions and execute them in accordance with disclosed business practices. Those operating the websites should maintain effective controls to ensure that customer orders placed using e-commerce are completed and billed as agreed and that customer information is protected from uses not related to its business.

The logo was developed by AICPA and Verisign, a provider of digital authentication services. The firm's encryption and authentication technology and practices help assure consumers that the seal on a site is real and that the site is entitled to display it.