If markets move on stories and momentum, who needs an audit?

Until something goes wrong, hardly anyone reads the 10-Ks or wants an audit

Almost all buyers and sellers of equities, large and small, seem to be just fine with trading trillions dollars of private and public company shares based on unaudited earnings press release information filled with never-to-be audited non-GAAP metrics.

So why bother mandating external audits by CPA firms at all?

In October of 2018, I wrote for MarketWatch…