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by yummyfajitas
5651 days ago
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The audit requirements have absolutely nothing to do with preventing companies making risky bets (e.g. Lehman) from going public. They are there primarily to make sure the company actually exists and is roughly what is represented to investors. The point is to make sure Lehman is actually a major global investment bank rather than 3 guys + a website in Long Island + a bank account to accept cash wires. |
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