Question: 3 . Materiality As a senior auditor, you calculated the materiality of the financial statements of Speedster to be R 3 4 0 0 0

3. Materiality
As a senior auditor, you calculated the materiality of the financial statements of Speedster to be
R3400000. The audit team documented that the revenue account balance was overstated
by R1700000 and that the total of all other misstatements amounted to R1800000. Despite
these findings, management refused to correct any of the identified misstatements. Refer to Materiality.
Based on the misstatements identified, discuss the type of audit opinion the
engagement partner will issue for the audit of the financial statements of
Speedster for the year ending 30 June 2024.

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