DETAILS OF ASSIGNMENT:

Review the audited annual reports including financial statements presented to the shareholders in respect of the company noted below and answer the questions. Please note that if the web-link fails to open you may need to right click on it and use open hyperlink to access it.

Woolworths Group 30 June 2018

https://www.woolworthsgroup.com.au/page/investors/our-performance/reports/Reports/Annual_Reports

Questions to be answered:

Assume that your audit team is responsible for planning the audit for the Woolworths Group for the year ended 30 June 2018. Discuss your strategies in relation to the questions noted below

(A). Carry out an analytical review on the financial statements of this company in the planning phase and identify areas of concern (high risk or problem areas) or comfort. Identify at least three (3) points for the company and justify your answer.

(B). What audit procedures and/or tasks would you have planned to carry out in response to the high risks or problem areas identified by you in (A) above? Alternatively, in relation to which area would you have minimised your evidence gathering procedure? See the required format for your answers below

Suggested Format of answers for Question (A) and (B):

Analytical Review Area of Concern/ comfort Identified	Justify Your Answer	Assertion and Ledger Account(s) Impacted	Audit Procedure/Task