Re: I have no idea what the solution should be.
I admire your optimism. Remember Enron? End of the financial world. Much hand-wringing from politicians of red-tie and blue-tie variety.
What did it give us? Sarbanes–Oxley Act. A veritable gift to the same firms that allowed Enron to happen.
More useless compliance work that doesn't actually change anything. Forced paper trails.
Anyone stupid enough to be caught by info gleaned from a Sarbanes-Oxley audit would probably be hard pressed to steal candy from a baby.