"When we talk about FTX, a common question arises, "Who audited the FTX?". As a component of the SEC accounting and auditing enforcement procedures, a crucial part resides in the submission of audited FS to SEC.
The submission of such audited FS is compulsorily required by SEC. 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 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. 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, conformity with these regulations is one of the significant issues under the purview of SEC.
Auditing financial statements of FTX is seen in light of these rules and regulations, acknowledging the bond between FTC and SEC.
In the US, it's standard practice for an entity to require SEC's approval to function as read more an audit client. SEC also certifies external auditors, thereby enhancing quality checks in audited financial statements.
When it comes to defining 'SEC' in terms of an audit, it represents the U.S. Securities and Exchange Commission, a regulatory body that oversees audits.
Even in places like Texas, the SEC holds sway in regulatory matters. In conclusion, clarity regarding FTX's auditor to understanding SEC's influence, audit norms and protocols carry great weight in the finance industry."