This report presents an audit and assurance analysis of Woolworths Limited, a major Australian retail company. The report begins with a background and abstract outlining the scope of the audit services from professional, legal, and ethical perspectives. It then delves into a detailed financial analysis, utilizing ratio analysis to assess the company's liquidity, profitability, and solvency over a four-year period. Based on this analysis, the report identifies key accounts and relevant audit procedures, including vouching of incomes and expenses, verification of assets and liabilities, and the use of computer-based auditing techniques. Part B of the report focuses on corporate governance, examining the presence and composition of the audit committee and its benefits for the auditor, the company, and society as a whole. The report concludes with a discussion of the company's commitment to corporate governance and its impact on stakeholders.
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