I disagree - there is a difference between backing Insto's...

I disagree - there is a difference between backing Insto's buying in (FIL) and basing investment decisions on third party auditors (PWC).

Insto's are only meant to have access to market information (ie - what you and I know).

Auditors have access to all documentation, contracts, system information and internal processes to make an independent assessment for completeness and accuracy. The integrity of the market relies on third party auditing.