Enhanced Auditor Reporting: A Case Study of Woolworths Group

Audit Assignment

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By student name
Professor
University
Date: 20th Sep 2018.
Executive Summary
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The objective of the assignment is to highlight the significance and crucial nature of enhanced auditor
reporting. As an illustration, Woolworths Group has been taken for the better understanding of the
concept. Upon analysing the annual report, it seems that the audit has done a good study on the
enhanced reporting front. From the viewpoint of the shareholders, sufficient information has been
provided necessary for a good understanding. It seems to me that no information that could be material
has been omitted.
Contents
Introduction.................................................................................................................................................4
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Requirements for Independence ...........................................................................................................................4
Provisions of non-audit services ...........................................................................................................................4
Auditors remuneration Analysis ...........................................................................................................................4
Performed matters of audit and the Key matters of Audit..........................................................................5
Carrying value of Plant, Property and Equipment of Big W .......................................................................5
Provisioning of Inventory.............................................................................................................................5
Aspects of Accounting related to rebates....................................................................................................6
Information Technology Systems................................................................................................................6
Audit Committee.........................................................................................................................................5
Audit Opinion..............................................................................................................................................6
Responsibilities of the Directors and Management.....................................................................................6
Responsibilities of the Auditors...................................................................................................................6
Subsequent events that are material in nature...........................................................................................7
Assessment of material information...........................................................................................................7
Potential misreported or under-reported information...............................................................................7
Follow up questions.....................................................................................................................................8
Conclusion...................................................................................................................................................9
References.................................................................................................................................................10
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