"When we talk about FTX, a common question arises, "Who audited the FTX?". In line with the SEC's accounting and auditing enforcement, the audited financial statement (FS) submission to the SEC plays a critical role.
It's a requirement by SEC to submit these audited FS. 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 exists a set of protocols and guidelines that should be adhered to.
Audits make up a significant observation field for the SEC. The SEC audit committee usually includes a financial expert as an integral member. One of the significant authorities of sec accreditation for external auditors the SEC lies in its influence over audits.
As for the annual audit filing of broker-dealer with the SEC, compliance with this requirement is a significant aspect of the SEC regulations.
Auditing financial statements of FTX is seen in light of these rules and regulations, acknowledging the bond between 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.
In explaining 'SEC' in the audit context, 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. In conclusion, clarity regarding FTX's auditor to understanding SEC's influence, audit norms and protocols carry great weight in the finance industry."