The deal was formalised in a ministerial announcement in September 2024, just before Labor lost the state election.But the audit, by finance advisory firm Grant Thorton, flagged a series of tender missteps.In a big red box marked "critical", the auditors listed flaws about assessing the financial information's integrity."Financial documents provided by the preferred supplier were unaudited, lacked independent verification and contained multiple red flags, raising concerns about their reliability," the auditors wrote.Among problems were Cryptoloc Holdings supplying a three-page PDF document of financial accounts to outsourced credit reporting agency Equifax Equifax, in a report to the department that gave the bidder a 4.32 score out of 10, put in a disclaimer saying it did not verify the supplied information's accuracy.The department also had not assessed the completeness of Cryptoloc Holding's financial information, the auditors wrote, and questions surrounded those documents.The auditors' searches of government registries and three major accountancy organisations could not find the documents' listed accountant, either as a registered tax agent or member of the accountancy organisations.Also, the profit and loss statement and balance sheet were "presented in a non-standard and unexpected format", the auditors noted.Cryptoloc Holdings' balance sheet listed having $2.432 million in its bank account in August 2024, prompting the auditors to advise: "For a small Australian business who has accumulated losses to date of $1.133 million, bank account balances of this magnitude are highly unusual."Equifax's report to the government, meanwhile, had flagged "adverse" findings against two other companies of which Mr Wilson was a director