"When we talk about FTX, a common question arises, "Who audited the FTX?". In the framework of check here the SEC’s regulatory enforcement on accounting and auditing, the audited financial statement (FS) submission to the SEC plays a critical role.
It's a requirement by SEC to submit these audited FS. In the case of these SEC audited financial statements they facilitate the accountability and transparency of the related business entity.
If one wonders how to submit audited FS to SEC, there are guidelines and protocols that need to be followed.
Audits make up a significant observation field for the SEC. In the composition of the SEC audit committee, a financial expert commonly plays a vital role. One of the significant authorities of the SEC lies in its influence over audits.
When it comes to the broker-dealer annual audit filing with SEC, the commitment to these requirements serves as a major aspect of SEC rulings.
Auditing financial statements of FTX is supervised under these regulations, considering the link between the FTC and SEC.
In the US, it's standard practice for an entity to require SEC's approval to function as an audit client. The SEC also accredits external auditors, ensuring quality control in audited financial reports.
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.
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."