"When inquiring about FTX, one might ask, “Who was the auditor for FTX?”. As a component of the SEC accounting and auditing enforcement procedures, the read more submission of the audited financial statements to SEC is of paramount importance.
The submission of such audited FS is compulsorily required by SEC. In the case of these SEC audited financial statements provide transparency and accountability for the respective organization.
Should anyone question about the submission of audited FS to the SEC, there exists a set of protocols and guidelines that should be adhered to.
Audits constitute an integral part of SEC's monitoring. In the composition of the SEC audit committee, a financial expert commonly plays a vital role. Influencing audits forms one of the key powers that the SEC holds.
In terms of the broker-dealer annual audit filing with the SEC, the commitment to these requirements serves as a major aspect of SEC rulings.
When auditing the financial records of FTX is supervised under these regulations, considering the link between the FTC and SEC.
Usually, SEC's accreditation is needed for an entity to act as an audit client in the US. SEC also recognizes external auditors bringing forth robust quality control in audited financial documents.
In explaining 'SEC' in the audit context, it means the U.S. Securities and Exchange Commission, an organization that regulates audits.
SEC's influence extends even to places like Texas in terms of regulatory issues. In conclusion, clarity regarding FTX's auditor to understanding SEC's influence, audit norms and protocols carry great weight in the finance industry."