Consider the following scenario. Restrictions imposed by the client prohibit the observation of stock-take, which accounts for about 40 per cent of all assets.

Alternative audit procedures cannot be applied, although the auditor was able to obtain satisfactory evidence for all other items in the financial statements. The auditor should issue:

(a) an unqualified opinion.

(b) an adverse opinion.

(c) adisclaimer of opinion.

(d) an ‘except for’ opinion.

Choose the best answer.