You are in the final phase of the audit of Dakker Ltd for the year...
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Accounting
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 auditors opinion for Dakker LTD for the year ended 30th June 2020. Justify all aspects of your response.
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