10. You are the auditor on the Mega Limited (Mega) engagement for the financial year ending 30 June 2017. Mega has operations in various locations across Sydney. A draft copy of a local government's proposed development plan was leaked to the press and reported in the media on 27 August 2017. The media reported that the government will be repossessing land on which one of Mega's facilities is located for redevelopment as a major motorway. The property one in question is worth 8% of Mega's Property, Plant and Equipment balance. The local government has not confirmed the accuracy of the reports and no further information is available on the date of the signing of the audit report on 30 August 2020. in your opinion the information reported by the media is largely based on unsubstantiated specuiation. State the appropriate action, if any, the auditor of Mega should require. a) Adjustment of the account balance in the financial report necessary. b) Inform sharehoiders that the financial report can no longer be reiied on. c) Disciose by way of note to the financial report. d) No action necessary