Detailed Analysis of the Audit Report for Wesfarmers Limited (2017)

This report provides a detailed analysis of the audit report for Wesfarmers Limited for the year ending 2017. It examines the roles and responsibilities of the auditor, Ernst and Young, including their independence, non-audit services, and fees. The report delves into key audit matters such as impairment of non-current assets, supplier rebates, the acquisition of Hampden Group Limited, and IT infrastructure. It also evaluates the audit committee's composition and functions, as well as the audit opinion and directors' responsibilities. The analysis highlights the importance of independent auditing in presenting a true and fair view of the company's financial position, emphasizing compliance with Australian accounting standards and the Corporations Act 2001.