The Australian Securities & Investments Commission (ASIC) has commenced civil penalty proceedings in the Federal Court against BDO Audit (WA) Pty Ltd and its director Dean Just, alleging they made statements in audit reports that rendered them materially false or misleading and failed to take all reasonable steps to prevent that outcome. The case concerns audit reports lodged with ASIC for Dubber Corporation Limited and the Dubber Group for the financial years ended 30 June 2020, 30 June 2021 and 30 June 2022, when Mr Just was the lead auditor. ASIC alleges the reports improperly stated that the financial report gave a true and fair view, that the audits were conducted in accordance with the Australian Auditing Standards, and that sufficient and appropriate audit evidence had been obtained, in circumstances where Dubber’s financial reports were materially misstated and the audits were not conducted in accordance with the standards. The release also notes earlier ASX announcements by Dubber regarding alleged unauthorised use of funds held by a third-party trustee with a stated maximum exposure of AUD 26.6 million, and subsequent proceedings commenced by Dubber Pty Ltd against BDO Audit for up to AUD 26,605,000 plus interest and costs.
Australian Securities & Investments Commission 2025-12-22
Australian Securities & Investments Commission sues BDO Audit and director Dean Just over allegedly misleading Dubber audit reports
The Australian Securities & Investments Commission (ASIC) has initiated civil penalty proceedings against BDO Audit (WA) Pty Ltd and its director Dean Just, alleging false or misleading statements in audit reports for Dubber Corporation Limited and the Dubber Group for financial years 2020-2022. ASIC claims the reports inaccurately stated compliance with Australian Auditing Standards and a true and fair view of financials, despite material misstatements. Dubber has also commenced proceedings against BDO Audit for up to AUD 26.6 million plus interest and costs, related to alleged unauthorised fund use.