The governor only functions that change critical parameters should emit events. Events allow capturing the changed parameters so that off-chain tools/interfaces can register such changes with timelocks that allow users to evaluate them and consider if they would like to engage/exit based on how they perceive the changes as affecting the trustworthiness of the protocol or profitability of the implemented financial services. The alternative of directly querying on-chain contract state for such changes is not considered practical for most users/usages.
Missing events and timelocks do not promote transparency and if such changes immediately affect users perception of fairness or trustworthiness, they could exit the protocol causing a reduction in liquidity which could negatively impact protocol TVL and reputation.
There are owner functions that do not emit any events in the contracts.
Navigate to the following contracts:
See similar High-severity H03 finding OpenZeppelins Audit of Audius and Medium-severity M01 finding OpenZeppelins Audit of UMA Phase 4.
Add events to all admin/privileged functions that change critical parameters.
