No sheathing at attic wall

Seen this yesterday in an attic of a two story home built in 2001. Had vinyl siding. Appears that there is only pink foam board, house wrap then siding. I dont approve but is it acceptable or unacceptable building practice and how would you word your narrative?

I’m not familiar with the pink stuff, but there are foam sheathing products. All the ones I know of require lapping and/or taping of the seams.

Doesn’t look like they installed sheathing between the siding and frame? Sunlight shining through the siding and foam?

Would not fly here or in Ontario.
(1) exterior walls and gable ends shall be sheathed (when the exterior cladding requires intermediate fastening between supports) or if the exterior cladding requires solid backing.