Earlier quoted context omitted.
If I can ask on business model, as I have a friend with a similar predicament — what percent of the time do you find vulnerabilities in those audits? Do companies push back if you don't find vulnerabilities?
These companies almost always produce "vulnerabilities", but they're also almost always trash. "Finding: This dependency is vulnerable to CVE-X, update it, severity S". And then of course that dependency is only used during development, the vulnerable code isn't called, and they didn't bother to dig into that. "Finding: Server allows TLS version 1.1, while it's recommended to only support version 1.2+", yeah, sure, I…
That said, a policy of blindly updating dependencies to patch irrelevant CVEs is itself, a very real security vulnerability, because pulling in millions of lines of code no one reviews from the internet regularly makes you an easy target for supply chain attacks.
We have pulled off supply chain attacks on our clients a few times who were not otherwise convinced they were a real threat.