mandatory audit definition
mandatory audit means a forensic accounting and/or information technology examination of the Merchant required by the card network or acquiring bank that has been triggered by one or more cardholders indicating potential or actual fraudulent activities that the card network has cause to believe occurred due to a data compromise. Mandatory audits must be initiated by the card network or acquiring bank in writing and must be conducted by a qualified security assessor. The mandatory audit requires the qualified security assessor to examine the operations of the Merchant in order to either locate the source of the problem or to determine if non- compliance of the PCI Data Security Standards actually occurred.
mandatory audit means a forensic legal and/or information technology examination of the merchant required by the card association or acquiring bank that has been triggered by one or more cardholders indicating potential or actual fraudulent activities that the card association has cause to believe occurred due to the merchant's non-compliance with accepted PCI Data Security Standards. Mandatory audits must be initiated by the card association or acquiring bank in writing and must be conducted by a qualified security assessor selected by either the Named Insured, the acquiring bank or the merchant. The mandatory audit requires the qualified security assessor to examine the physical operations of the merchant in order to either locate the source of the problem or to determine if non-compliance of the PCI Data Security Standards actually occurred.
mandatory audit means a forensic accounting and/or information technology examination of the merchant required by the card network or acquiring bank that has been triggered by one or more cardholders indicating potential or actual fraudulent activities that the card network has cause to believe occurred due to a data compromise. Mandatory audits must be initiated by the card network or acquiring bank in writing and must be conducted by a qualified security assessor selected or approved by the card network or acquiring bank.
More Definitions of mandatory audit
mandatory audit means a forensic accounting and/or information technology examination of the Merchant required by the card netw ork or acquiring bank that has been triggered by one or more cardholders indicating potential or actual fraudulent activities that the card netw ork has cause to believe occurred due to a data compromise. Mandatory audits must be initiated by the card netw ork or acquiring bank in w riting and must be conducted by a qualified security assessor . The mandatory audit requires the qualified security assessor to examine the operations of the Merchant in order to either locate the source of the problem or to determine if non- compliance of the PCI Data Security Standards actually occurred.
mandatory audit refers to the audit to be completed by the Auditor pursuant to sections 205 para. 5, 33, 34 of the German Stock Corporation Act.