A Planning Materiality Base of: Prot before tax A Planning Materiality percentage of: 5% A Planning Materiality amount of: $10,443,950 (5% x 208,879,000) A Clearly Trivial Threshold of: $261,100 (2.5% x 10,443,950 rounded to the nearest 100) This information is particularly relevant for your completion of Task 6. Task 6 Appendix B presents you with the same key matters noted during the audit of Penfolds Mining Group Ltd as stated in Appendix A (see task 5 above), but also now notes the judgements made by the audit partner relating to each audit matter, corrections to the nancial statements that are suggested l{if any) AND further, management's responses to the suggestions for amendments to the nancial statements. This task therefore requires you to carry errors found during the audit to the summary of audit differences. The errors in recorded amounts and judgemental differences encountered during the audit for which the client has not made a correction will need to be summarised to evaluate the materiality of their aggregate effect on the financial statements and their effect they may have on the overall conclusion (audit opinion). To enable you to complete the audit process, you are provided with a summary of key issues identied during the course of the audit, related discussions with management and resulting conclusions (refer to Appendix B below). Required a. Consider each of the ndings provided in the additional information (See Appendix B below) and prepare a summary of audit differences {SADs) and identify/assess the overall impact of the unadjusted audit differences, assuming that the client has adjusted for the differences agreed with the auditor and NOT adjusted for the differences not agreed with the auditor [your assessment should show the impact of each difference on the current assets, non-current assets, current liabilities, non- current liabilities, and the prot/loss for the year). You must explain your reason for each in the relevant white cells on the spreadsheet tab Task 6. b. Compare the net result with the materiality gure and assess the impact of the unadjusted differences on the audit opinion. You must explain your comparison and impact in the relevant white cell on the spreadsheet tab Task 6. c. Determine the type of audit opinion that should be prepared under Australian Auditing Standards I(Note, you do not prepare the audit report, just determine the type of audit opinion that should be prepared). Reference this section with the relevant Audit Standard. You must clearly explain the decision steps you have taken in order to reach the decision as to the type of audit opinion. It would be advisable to give an example of the type wording in the audit opinion that you are proposing