This assignment is an audit report analyzing Woolworths Limited, a major Australian retail organization. It begins with an executive summary and an introduction outlining the report's objectives. The report delves into understanding the nature of Woolworths, its industry, including size, growth, supply chain, major players, market shares, critical success factors, and major threats. It also examines the legal environment and external environmental factors through PEST, SWOT, and Porter's Five Forces analyses. Furthermore, the report assesses Woolworths' objectives, strategies, and business risks, including industry developments, new products, expansion, and regulatory requirements. Analytical procedures, such as liquidity, profitability, efficiency, capital structure, and market performance ratio analyses, are conducted to understand the entity's financial performance. The report concludes with an examination of management and governance aspects, including integrity, competence, organizational structure, and human resource policies. References and appendices are included to support the analysis.