This assignment is to be based on Wesfarmers Limited (ASX code-WES). 1. You are a part of the team responsible for planning the Wesfarmers (parent and the consolidated economic entity) audit engagement for 2017. You have been assigned to gather relevant background information and prepare a report for a meeting with your audit partner and audit managers. Your report must address the following issues: a. What are the areas in which Wesfarmers conducts its operations? b. Which particular laws/regulations (other than financial related categories which include legislations such as: Corporation Act 2001, Australian taxation laws, etc.) affect its operations? You need to identify at least FIVE laws/regulations. c. Who are its primary competitors (TWO major and TWO minor) in retail sector? The answers for above questions should be reflective of your in-depth understanding of how the Wesfarmers operates. [12+5+4=21 marks] 2. A SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis also known as internal-external analysis is a planning tool and often used in strategic analysis of a business. Prepare a SWOT analysis showing the kind of factors that may have a material impact on the business of Wesfarmers. You need to identify at least TWO factors for each of the four areas and explain how each of the factors impacts Wesfarmers. **ONLY S(strength)& W(weakness)**
