As long as these projects are central and developers can control a part of them (Marketcap, Demand, suport, value,..etc) there must be a supervisory authority that checks the true value of these currencies and ensures that no scamming with occurs.
Cryptocurrencies (Bitcoin and some well known projects) are open source software and anything can verify + every transaction with it. Therefore, it is illogical to have a supervisory authority in something open source and everyone can be sure of everything with it.
The same applies to crypto platforms and other central services.
May be it's not about open source itself but about altcoin projects launched with the help of ICO. They are open source, anyone can work on them with GitHub and stuff but they solely depend on the owners and team to keep the project going on or not.
I think this audit stuff is associated with that triangle. The dots are not always open, you have to keep checking the projects at every stage of roadmap. Most of spurious activities can be tracked down for example, active users on the project, investors buzz, social presence and what not.
Yeah, if this about audit which talks of above stuff then it is indeed needed.