1. Identify auditors’ reporting requirements for internal control deficiencies in a financial statement audit for public and private companies.
2. Suppose the following represents compensation per hour and the number of hours worked by six employees of our organization during the past week. Use these data to calculate the average wage rate of the employees.
Employee: 1 2 3 4 5 6
Hours: 20 40 35 30 37 25
Wage: $15.00 $18.00 $12.00 $20.00 $14.00 $23.00