Perhaps. I am by no means an expert on regulatory requirements. My statement earlier was my understanding from previous posts I've read on this forum. It just seemed odd to me that we had no action, up or down, the first hour the day after an SEC filing, let alone one that many on this site were anxiously awaiting.
Audited makes it easier to swim upstream on exchange or do a quick sale. Use some key words like Auditor opinion letter and stuff like that to get familiar.