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This assignment is to be based on Woolworths Limited (ASX code-WOW). Required: 1. You are a part of the team responsible for planning the Woolworths (parent and the consolidated economic entity) audit engagement for 2016. 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 major sources of Woolworths revenue? b. What are the areas in which Woolworths conducts its operations? c. Which particular laws/regulations (other than financial related categories which include legislations such as: Corporation Act 2001, Australian taxation laws, etc.) affect its operations? d. Who are its primary competitors (major and minor)? e. What is Woolworths market share? The answers for above questions should be reflective of your in-depth understanding of how the company operates. 2. Identify and explain SIX significant business risk factors that the auditor needs to consider for the Woolworth group engagement.