Final answer:
An emphasis of matter paragraph is used in an auditor's report to draw attention to certain matters regarding the financial statements. Material uncertainties disclosed in the footnotes do not require an emphasis of matter paragraph.
Step-by-step explanation:
An emphasis of matter paragraph is a section in an auditor's report that draws attention to certain matters regarding the financial statements. It is used when the auditor believes that the matters mentioned may influence the users' understanding of the financial statements. The correct answer to your question is 4) material uncertainties disclosed in the footnotes. This is because material uncertainties disclosed in the footnotes are already addressed and communicated in the financial statements, and therefore, do not require an emphasis of matter paragraph.
This could be a relevant issue that requires an emphasis of matter paragraph if it is appropriately disclosed in the financial statements. An emphasis of matter paragraph in an audit report is used to draw attention to a matter that is appropriately presented or disclosed in the financial statements and is considered relevant to users' understanding of those financial statements. It is not used to highlight issues related to the auditor's independence. If there are significant events that occurred after the balance sheet date but before the issuance of the financial statements, and these events are appropriately disclosed, an emphasis of matter paragraph may be warranted.