"When FTX is under discussion, a common question to arise is, “Who performed the audit on FTX?”. In line with the SEC's accounting and auditing enforcement, the submission of the audited financial statements to SEC is of paramount importance.
SEC mandates the submission of these audited FS. In the case of these SEC audited financial statements provide transparency and accountability for the respective organization.
In case anyone seeks how to submit audited FS to the SEC, there are guidelines and protocols that need to be followed.
Audits constitute an integral part of SEC's monitoring. The SEC audit committee usually includes a financial expert as an integral member. One of the significant authorities of the SEC lies in its influence over audits.
In terms of the broker-dealer annual audit filing with the SEC, compliance with this requirement is a significant aspect of the SEC regulations.
When auditing the financial records of FTX is seen in light of these rules and regulations, acknowledging the bond between FTC and SEC.
Usually, SEC's accreditation is needed for an entity to act as an audit client in the US. The SEC also accredits external auditors, ensuring quality control in audited financial reports.
When it comes to defining 'SEC' in terms of who was the auditor for ftx an audit, it outlines the U.S. Securities and Exchange Commission, an authoritative body governing audits.
In areas including Texas, SEC's dominion reigns when it comes to regulatory concerns. To sum up, from understanding who the auditor for FTX was, to comprehending the SEC's influence, audit requirements and procedures are crucial in the world of finance."