Australian Securities and Investments Commission (ASIC) has initiated civil penalty proceedings in the Federal Court involving BDO Audit (WA) and its director, Dean Just.
The regulator alleged that audit reports prepared for Dubber Corporation for the financial years ending 30 June 2020, 2021, and 2022 contained materially false or misleading statements.
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ASIC stated that the audit reports in question included several statements from BDO: the financial reports gave a true and fair view of Dubber Group’s financial position; the audits complied with Australian Auditing Standards; adequate evidence was collected to support these opinions.
ASIC claimed that these assurances were given even though Dubber’s financial statements for those years were “materially misstated”, and that the audits did not meet required standards.
Dean Just served as the lead auditor during the period covered by the allegations.
On 1 March 2024, Dubber informed the Australian Securities Exchange (ASX) that during a review of its half-year accounts to 31 December 2023, inconsistencies were identified regarding funds supposedly held by a third-party trustee.
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By GlobalDataAccording to Dubber’s preliminary findings, funds thought to be held in a term deposit may have been used for other purposes and were not currently accessible.
The company reported its maximum financial exposure at A$26.6m.
On 9 April 2024, Dubber made an additional statement to the ASX, indicating from its investigation that its former CEO and the third-party trustee “were likely involved in the unauthorised use of those funds”.
On 17 June 2025, Dubber announced a further development that its subsidiary, Dubber Pty Ltd, had filed proceedings in the Federal Court of Australia against its former auditors at BDO Audit (WA).
The company sought up to A$26,605,000 plus interest and costs.
ASIC deputy chair Sarah Court said: “We consider BDO Audit and Mr Just acted outside of the auditing standards, and we allege misleading reports were submitted to ASIC.
“Auditor misconduct continues to be a key enforcement priority for ASIC.
“Confidence and trust are fundamental to the role of company auditors, and critical to maintaining the integrity of our markets and enabling investors to make informed decisions.”
