An auditor includes a separate paragraph in an otherwise unmodified financial statement audit report to emphasize that the entity being reported upon had significant transactions with related parties. The inclusion of this separate paragraph:

Multiple Choice

violates auditing standards if this information is already disclosed in footnotes to the financial statements

is considered an $$except for$$ qualification of the opinion

necessitates a revision of the opinion paragraph to include the phrase $$with the foregoing explanation$$

is appropriate and would not negate the unmodified opinion