An independent auditing firm has completed an audit of a publicly-held company. The audit team has identified a change in accounting principle and is satisfied with the change except for the adequacy of disclosures regarding the change. The issue is material, but the audit team is otherwise satisfied that the financial statements, taken as a whole, are fairly stated in all material respects, except for this inadequacy of disclosure. Which of the following actions is most appropriate?

Group of answer choices

treat the inadequacy of disclosure as a GAAP departure and issue an qualified, except for opinion.

issue an unqualified opinion and add a fourth paragraph to make the appropriate disclosures.

treat the inadequacy of disclosure as a GAAP departure and issue an adverse opinion, because to do otherwise would be considered a piecemeal opinion.

issue a disclaimer of opinion due to the materiality of the issue.