Meyer Company is considering being audited for the first time. Mary Thomas, its president, has asked your advice. She says: “I understand that after an audit the certified public accountant issues a report that expresses some opinions, and that one type of report is ‘unqualified.’ What exactly is involved in an audit, what opinions does the auditor express, and what paragraphs are included in an unqualified audit report?”

Required
Prepare a written response to the president of Meyer Company.