Customer Authorization - Wrong Email/No Email

I have my store set so that someone can apply for permission to shop there but it needs to be approved by me. Currently when a person applies for this and attempts to sign up the website gives them the 'Thank you for requesting Authorization for our store.
We will contact you as soon as possible.' message but they receive a welcome email that congratulates them on creating their account. Shouldn't they get an email that says that their status is pending? If given a choice I'd rather they get no email when they have requested authorization but GET an email if they're are approved...but either way I can't find where I'd set this up....?

An email is sent when the Customer creates an account and an email is sent when the Customer Status is updated ...

Change the content on your Welcome email to reflect that they are pending approval ...

I have been trying to locate that email file to edit it and can not find it. I have used the Developers Tool to search for Customer Status Updated and still can not locate the file that has the content of this email.

Does anyone know where it is located?

Did you look in the file:
/admin/customers.php

The code is set in the case for:

      case 'status':
        if ($_GET['current'] == CUSTOMERS_APPROVAL_AUTHORIZATION) {
          $sql = "update " . TABLE_CUSTOMERS . " set customers_authorization=0 where customers_id='" . (int)$customers_id . "'";
          $custinfo = $db->Execute("select customers_email_address, customers_firstname, customers_lastname
                                    from " . TABLE_CUSTOMERS . "
                                    where customers_id = '" . (int)$customers_id . "'");
          if ((int)CUSTOMERS_APPROVAL_AUTHORIZATION > 0 && (int)$_GET['current'] > 0 && $custinfo->RecordCount() > 0) {
            $message = EMAIL_CUSTOMER_STATUS_CHANGE_MESSAGE;
            $html_msg['EMAIL_MESSAGE_HTML'] = EMAIL_CUSTOMER_STATUS_CHANGE_MESSAGE ;
            zen_mail($custinfo->fields['customers_firstname'] . ' ' . $custinfo->fields['customers_lastname'], $custinfo->fields['customers_email_address'], EMAIL_CUSTOMER_STATUS_CHANGE_SUBJECT , $message, STORE_NAME, EMAIL_FROM, $html_msg, 'default');
          }
        } else {
          $sql = "update " . TABLE_CUSTOMERS . " set customers_authorization='" . CUSTOMERS_APPROVAL_AUTHORIZATION . "' where customers_id='" . (int)$customers_id . "'";
        }
        $db->Execute($sql);
        $action = '';
        zen_redirect(zen_href_link(FILENAME_CUSTOMERS, 'cID=' . (int)$customers_id . '&page=' . $_GET['page'], 'NONSSL'));
        break;

Do a search on the components or do a search on the text of the email you receive when testing this ...