"When FTX is under discussion, a common question to arise is, “Who performed the audit on FTX?”. In the framework of the SEC’s regulatory enforcement on accounting and auditing, a crucial part resides in the submission of audited FS to SEC.
SEC mandates the submission of these audited FS. When it comes to these SEC's audited financial documents, provide transparency and accountability for the respective organization.
Should anyone question about the submission of audited FS to the SEC, certain guidelines should be followed in accordance with protocols.
Audits make up a significant observation field for the SEC. The SEC audit committee usually includes a financial expert as an integral member. Influencing audits forms one of the key powers that the SEC holds.
In terms of the broker-dealer annual audit filing with the SEC, conformity with these regulations is one of the significant issues under the purview of SEC.
When auditing the financial records of FTX falls under the oversight of these regulations, given the interconnection between the FTC and SEC.
To serve as an audit client in the US, SEC's endorsement is usually required. SEC also recognizes external auditors bringing forth robust quality control in audited financial documents.
When it comes to defining 'SEC' in terms of an audit, it means the U.S. Securities and Exchange Commission, an organization that regulates audits.
In areas including Texas, SEC's dominion reigns when it comes to regulatory concerns. To sum up, from understanding who the auditor for check here FTX was, to comprehending the SEC's influence, audit requirements and procedures are crucial in the world of finance."