"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.
SEC mandates click here the submission of these audited FS. 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, there are guidelines and protocols that need to be followed.
Audits constitute an integral part of SEC's monitoring. The SEC audit committee usually includes a financial expert as an integral member. One of the significant authorities of 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 falls under the oversight of these regulations, given the interconnection 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. SEC also certifies external auditors, thereby enhancing quality checks in audited financial statements.
To clarify what the term 'SEC' refers to in 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. Overall, knowing the auditor of FTX and understanding SEC's impact, the audit processes and standards bear great significance in the financial sector."