c$)$

$(5$ Marks$)$

The annual accounts of Mars plc for the year ended $30$ April $2022$ are

supposed to be authorised in company AGM $($annual general meeting$)$

scheduled for $20$ July $2022.$ Evaluating the audit working papers on $11$

June, it was noted that the audit team had identified on $5$ May that during

the inventory count that took place on $30$ April $2022$ the inventory counters

had mistakenly counted a material consignment of inventory twice.

Required

Should the financial statements be adjusted?