Choice "D" is correct. The paragraph should refer to the note in the financial statements that discusses the change in detail. Following is an example of an appropriate emphasis-of-matter paragraph: "As discussed in Note X to the financial statements, the company changed its method of accounting for income taxes in X2."
Choice "a" is incorrect. The auditor need not explain why a change from one generally accepted accounting principle to another is justified.
Choice "b" is incorrect. The paragraph should not identify the cumulative effect of the change on the audited financial statements.
Choice "c" is incorrect. The auditor should never explicitly state concurrence with a change. If the auditor opposes the change, a qualified or adverse opinion should be issued.