Seems like requiring an audit might be the solution to this issue? Why they (or anybody) can go public, with financials that are little more than a pinky-swear, is beyond me.
Like the S-1? Where it clearly shows the auditor's opinion where it goes in every S-1? Because pretty much every company going public (through a IPO) in America needs to have audited financials [1].
:shrug:
:shrug: