Naïve question: Aren't yearly audits the norm? In Sweden, you need audited reports as soon as you have 3 employees. And no, not to protect investors, but to pro

Naïve question: Aren't yearly audits the norm? In Sweden, you need audited reports as soon as you have 3 employees. And no, not to protect investors, but to protect the state's pocket. But as a nice side-effect, investors can trust the books too.