"Understanding the Role of SEC and the Auditor for FTX"

"Understanding the Role of SEC and the Auditor for FTX"

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"When we talk about FTX, a common question arises, "Who audited the FTX?". In line with the SEC's accounting and auditing enforcement, the submission of the audited financial statements to SEC is of paramount importance.

It's a requirement by SEC to submit these audited FS. These SEC audited financial statements provide transparency and accountability for the respective organization.

Should anyone question about the submission of audited FS to the SEC, there exists a set of protocols and guidelines that should be adhered to.

An important area of interest for the SEC is audits. 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, the commitment to these requirements serves as a major aspect of SEC rulings.

The auditing of FTX financial statements 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. The SEC also accredits external auditors, ensuring quality control in audited financial reports.

To clarify what the term 'SEC' refers to in an audit, 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." more info

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