As far as I'm aware it doesn't quite work like that - you can still operate flights (and you don't have to report them to ARGUS or Wyvern, they audit you) but if it's a flight which specifically requires an ARGUS or Wyvern flight audit then they have to be approved - I think you maybe don't understand how the ARGUS/Wyvern systems work if you are asking the question, but essentially although the operator is approved, not all of its flights might be - just the ones that the customer (who is asking ARGUS or Wyvern to approve a flight for them - not general, but specific) wants.
In a very overview way: the operator doesn't really pay for the approval (just the audit costs) the customers (passengers) pay through a subscription for a flight that they are taking to be approved for them - which will have a specific tail number, specific crew etc - if any of that changes, the flight becomes unapproved.
If of course an operator inputs incorrect information then arguably they could get away with it for a while, but it would definately be spotted at the next audit and I'm pretty sure they'd cancel your approval and make a public statement about why - a lot to lose reputationally.