One of the major issues involved in establishing new trading relationships is the lack of an a
priori trust relationship between the parties. Without a solution of this trust problem it is virtually impossible to
establish new trade relationships. This is an old and well-known problem in international trade. One way to
create the necessary trust is by using trade procedures that involve exchanges of documents between the trading
partners to verify that the counter party has fulfilled his part of the agreement. Up till now these documents were
paper documents. In electronic commerce these paper documents are replaced by information exchanges. One
crucial question, however, is whether these documents provide the same trustworthiness as the paper
documents. For example, uniqueness of ownership documents is simple to guarantee in the case of a signed
paper document. However, uniqueness of electronic messages is much harder to achieve. Electronic commerce
can only become a success in international trade if the trustworthiness of electronic versions of trade procedures
can be proven beyond reasonable doubt. We present the formal specification of the design principles for
trustworthy trade procedures, building on the work on audit daemons [17, 18] and their application in [3] on
inter-organisational trade procedures. It appears that the basic principles of internal auditing within a company
can be adapted for this auditing method. This auditing method has already been implemented in INTERPROCS,
which is a Prolog-based tool for representation and analysis of procedures. In the formal specification given in
this paper we give a more abstract specification of the auditing method, which gives a more structured
semantics for the key concepts of the auditing method used in INTERPROCS. Our formal specification is based
on a combination of deontic, dynamic and illocutionary modal logics.
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A Formal Analysis of Auditing Principles for Electronic Trade Procedures
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