When will an auditor express an opinion containing the phrase “except for”?

a. The client refuses to provide for a probable income tax liability that is very material, or super-material.

b. There is a high degree of uncertainty associated with the client company’s future.

c. He or she did not perform procedures sufficient to form an opinion on the valuation of accounts receivable that are material.

d. The auditor is basing his or her opinion in part on work done by another auditor.