Physical data flow diagrams:
A) include processes for adding, updating, changing and deleting records.
B) are used to model business events, along with their input and output.
C) enable the analyst to better understand the business.
D) include no interface data flow in or out of processes.
A
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In the context of mortgage-backed securities, a conditional prepayment rate (CPR) of 8% means that approximately 8% of an outstanding mortgage pool balance at the beginning of the year will be prepaid:
A. in the current month. B. by the end of the year. C. Over the life of the mortgages.
Which of the following factors should an external auditor obtain updated info about when assessing an internal auditors competence?
a. The reporting status of the internal auditor within the organization b. The educational level and professional experiences of the internal auditor c. Whether policies prohibit the internal auditor from auditing areas where relatives are employed d. Whether the board of directors, audit committee, or owner-manager oversees employment decisions related to the internal auditor