"When inquiring about FTX, one might ask, “Who was the auditor for FTX?”. In line with the SEC's accounting and auditing enforcement, a crucial part resides in the submission of audited FS to SEC.
The submission of such audited FS is compulsorily required by SEC. In the case of these SEC audited financial statements it helps in establishing accountability and transparency of the check here organization concerned.
If one wonders how to submit audited FS to SEC, there are guidelines and protocols that need to be followed.
Audits constitute an integral part of SEC's monitoring. Within the framework of the SEC audit committee, the presence of a financial expert is generally indispensable. The SEC has a strong influence over audits, one of its primary powers.
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.
The auditing of FTX financial statements 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 certifies external auditors, thereby enhancing quality checks in audited financial statements.
In explaining 'SEC' in the audit context, 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. Overall, knowing the auditor of FTX and understanding SEC's impact, the audit processes and standards bear great significance in the financial sector."