Auditing Australia Question Answer 2022

Running Head: AUDITING
AUDITING
Name of the Student
Name of the University
Author Note

1AUDITING
Table of Contents
Answer to Question 1.................................................................................................................2
Nature and Core Business......................................................................................................2
Answer to Question 2.................................................................................................................3
Key Business and Inherent Risk for Industries......................................................................3
Reference....................................................................................................................................5

2AUDITING
Answer to Question 1
Nature and Core Business
Woolworths Group Limited is the company that is based in Australia. The company is
engaged in the operation of retail. It operates within the sector of Consumer Staples, which is
listed in ASX indices. The company’s segment is consists of Australian Food and Petrol,
BIGW, Endeavour Drinks Group, Hotels and New Zealand Supermarkets. Further, segment
of the Australian food and Petrol is engaged in procuring petroleum and food products in
order to resale it to the Australian customers (woolworthsgroup.com 2019). The segment of
the New Zealand Supermarket is engaged in procuring products of the food and liquor in
order to resale to the customers in the New Zealand. Further, segment of BIGW is engaged in
procuring products of the discount general merchandise to Australian customers. Lastly, the
segment of hotel is engaged in provisions of the ranges of the services of leisure and
hospitability that includes entertainment, gaming, alcohol as well as food
(woolworthsgroup.com 2019).
Qantas Limited is the Australian based company that operates domestic as well as
international airline. It is one of the leading airlines of world. This company is engaged in
operations of the international as well as domestic services of air transportations, provision of
the services of freight as well as operations of the frequent flyer loyalty program. The
segments of the company is consists of Qantas International, Qantas Domestic, Qantas
Loyalty, Qantas Freights, Jetstar Group and Corporate. Moreover, segments of Qantas
International, Qantas domestic as well as Jetstar Group is consists of passenger flying
businesses (Investor.qantas.com. 2019). The segment of Qantas Freight is engaged in express
freights and air cargo businesses. Lastly, the segment of Qantas Loyalty is engaged in
customer loyalty recognition program. Further, the main business of the company is