The request for accreditation directed by EMVCo shall meet all the following criteria:
Q: Is there any annual audit request by EMVCo?
A: Yes. EMVCo reserves the right to audit the L3 QSP’s processes at least once a year. If a process issue is discovered, a more thorough, ad-hoc audit may be requested by EMVCo at the expense of the L3 QSP. If the findings of such an audit reveal significant shortfalls in the process, a termination of the contract could possibly be initiated by EMVCo.