As for the studs, if they are 9' 2x4 is fine. If they are over 9' they should be 2x6, but back in 93 that may not have been the norm. If it is all exposed inside, you could make sure the sill plates are affixed to the concrete or foundation properly with a pressure treated sill plate. If you are in any jurisdiction that isnt way out in BFE, the code compliance departments are pretty good....they tend to ensure things are built to code. If it shows up on the auditor site then they would have pulled necessary permits ect.