To become more familiar with these assurance services opportunities, visit the AICPA's website (www.aicpa.org) and enter "trust services principles" in the search box to locate information about the Trust Services Principles and Criteria. Also, visit the WebTrust website (www.webtrust.org) jointly hosted by the AICPA and the Canadian Institute of Chartered Accountants (CICA) to locate additional information provided about the Trust Services Principles and Criteria and use that information to answer the following questions:
(a) Summarize in your own words the objective of a Trust Services engagement.
(b) What are the five Trust Services Principles? Provide a brief description of each Principle.
(c) For each of the five Trust Services Principles, describe why management at EverBank Field or fans in the stadium could have benefitted from assurance about how the Spot Card technology complies with each of the five Trust Services Principles. For example, why might management be interested in obtaining assurance about the Spot Card's system's compliance with the "Security" principle?
(d) What are the purposes of "Principles" and "Criteria"? How do they relate and how do they differ?