that we need to involve a third part bank and a third party auditor
No, the auditor’s not in on it.
The auditor gets the CEO’s signoff to examine the bank balances. He calls the bank officer and asks to confirm whatever the number is.
It means only one person needs to be in on any possible fraud.
I don’t think the cash balance is faked, only pointing out that it is nowhere near impossible as others are making it out to be.
It’s much more likely that if shenanigans are going on, it’s due to channel stuffing or things of that nature. The low R+D and lack of CFO for years is suspicious, there’s just no way around it.