Trouble is, the SEC “investigators” are salaried dweebs who will get paid the same whether they uncover any fraud or not. Start putting them on some sort of commission program, for finds that result in convictions and prison terms for the perps (thus pretty firmly eliminating the collusion risk), and perps will start getting exposed much faster, and with the biggest ones getting exposed first.
No audit is guaranteed to uncover fraud, even if it is suspected. The most skilled auditors out there will never guarantee they'll find fraud even if it does actually exist. You can certainly tailor the audit to increase your likelihood of discovering fraud, but there is never a guarantee.
That's what I want; to live in a country where prosecutors and investigators are working on a quota system, and have a financial interest in convicting every individual, whether or not you are guilty of anything,.