If people need to prove everything there are different limits to that as well and no one would be able to say anything interesting as to prove things getting involved in advanced science which i wouldnīt be able to do and more or less turn this into something completely different. It is a rumour network after all much more fun that way.
Since Enronīs AAA rating earlier from one of the credit rating agencies i tend take audits and reports with a pinch of salt since you need to look for specific things in order to find them.
Never thought i would be quoting Donald Rumsfeld also but here it goes, he put it brilliantly eariler.
There are known knowns. These are things we know that we know. There are known unknowns. That is to say, there are things that we know we don't know. But there are also unknown unknowns. There are things we don't know we don't know.
For example in an audit as you cannot look for everything. All audits by the way.
The question remains for any others to answer, given that the attraction of EI registration may well be purely financial, can the arrangement I alluded to above be effectively regulated? Open question.
I am going to bite on that as there is surely some difficulties for the regulators that rely on income from their customers and the same time need to regulate them. Especially countries with fewer airlines based there as they are naturally more dependent on each airline for parts of their revenue.
I looked through the annual report of the IAA also and what struck me was the focus on economics in contrast to the UK CAA report. The legal framework in Ireland for corporations considering Google, Apple and many more all gather there as well as Norwegian lately must be good. A corporate minded regulator perhaps and favorable tax and social charges make it worthwhile relocating there.