Final answer:
If an auditor wishes to emphasize large related party transactions in a client's financial statements, an unqualified report with an explanatory paragraph is most likely. This report affirms the overall accuracy of the financial statements but includes extra information for clarity.
Step-by-step explanation:
If an auditor decides to draw attention to large related party transactions occurring in the financial statements of the client, the most likely audit report to be issued is unqualified with an explanatory paragraph. This type of report suggests that the financial statements present the financial position and results fairly, in all material respects, in accordance with the applicable financial reporting framework, but the auditor believes that additional information should be disclosed to the users of the financial statements. This additional information may be in the form of an emphasis-of-matter or an other-matter paragraph after the opinion paragraph in the audit report. Large related party transactions are not inherently incorrect or deceitful, but they can be of such significance that they warrant the auditor adding additional information for the benefit of the users of the financial statements.