I think I agree with you on the point that there is no excuse for the absence of a proper audit. However I don't think there is a shared understanding here of

I think I agree with you on the point that there is no excuse for the absence of a proper audit. However I don't think there is a shared understanding here of what an audit is. You can find audited financials of public companies on sec.gov, and see for yourself that they are not lists of "wallets" controlled by the company. It makes me think of Three-card Monte, a classic con. You see the target card, so you know it exists in a certain place at a certain moment. But the whole con is making you think you know where it will be. Which you don't, since it's a con.