Auditors are required to have insurance depending on tiers. I'm thinking they have more insurance coverage then SGH. I don't know how tiers are determined eg. their turnover or the client account turnover being audited or what. Maybe someone else here knows.
Company accounts don't mean much until they have been scrutinised then approved and signed off by the auditor or any red flags questioned and objections made. I relied very heavily on the SGH company financials audited and approved by PP. IMO PP are as much or even more to blame then SGH. I think MB will be seeking substantial compensation for aggrieved shareholders.