Question

b. You are in the final phase of the audit of Dakker Ltd for the year ended 30th June 2020. The company is incorporated in Australia, and develops and manages property across the eastern states. When conducting the review of the annual report, you notice that in the section \"2020 Highlights\" (page 2 of the annual report), the company has indicated it returned \$5.3 billion to shareholders as dividends. Based on your knowledge of the financial report just audited, you know that this figure should be \$5.1 billion. You have discussed the discrepancy with management, and they refuse to correct the error in the \"2020 Highlights\", citing the discrepancy as immaterial. Required: Using the Framework for Audit Opinions studied in this unit, explain the most appropriate auditor's opinion for Laksa Imports for the year ended 30th June 2020. Justify all aspects of your response. [10 Marks] [10 + 10 = 20 Marks]

          b. You are in the final phase of the audit of Dakker Ltd for the year ended 30th June 2020. The
company is incorporated in Australia, and develops and manages property across the
eastern states. When conducting the review of the annual report, you notice that in the
section \"2020 Highlights\" (page 2 of the annual report), the company has indicated it
returned \$5.3 billion to shareholders as dividends. Based on your knowledge of the financial
report just audited, you know that this figure should be \$5.1 billion. You have discussed the
discrepancy with management, and they refuse to correct the error in the \"2020 Highlights\",
citing the discrepancy as immaterial.
Required:
Using the Framework for Audit Opinions studied in this unit, explain the most appropriate
auditor's opinion for Laksa Imports for the year ended 30th June 2020. Justify all aspects of
your response.
[10 Marks]
[10 + 10 = 20 Marks]

b. You are in the final phase of the audit of Dakker Ltd for the year ended 30th June 2020. The
company is incorporated in Australia, and develops and manages property across the
eastern states. When conducting the review of the annual report, you notice that in the
section 2̈020 Highlights(̈page 2 of the annual report), the company has indicated it
returned $5.3 billion to shareholders as dividends. Based on your knowledge of the financial
report just audited, you know that this figure should be $5.1 billion. You have discussed the
discrepancy with management, and they refuse to correct the error in the 2̈020 Highlights,̈
citing the discrepancy as immaterial.
Required:
Using the Framework for Audit Opinions studied in this unit, explain the most appropriate
auditor's opinion for Laksa Imports for the year ended 30th June 2020. Justify all aspects of
your response.
[10 Marks]
[10 + 10 = 20 Marks]

Added by Mireia H.

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