A business associate makes the following statements. 1. The auditing standards for your profession are too general and provide no real guidelines. It would be very difficult to tell whether or not an audit is substandard. 2. What is the "actual message" being conveyed in an unqualified opinion? Does it mean that the company is a good investment or a good credit risk? 3. A qualified opinion in an audit report is hard to understand. If the financial statements are accurate, why not say so? If they are not accurate, why not indicate the reasons? Required: Reply to the business associate's comments. In your replies, describe

a. What specific acts or omissions in an audit could result in violations of which specific auditing standards.

b. The "actual message" in an unqualified opinion.

c. The meaning of a qualified opinion.