"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 FTX is under discussion, a common question to arise is, “Who performed the audit on FTX?”. In the framework of the SEC’s regulatory enforcement on accounting and auditing, the submission of the audited financial statements to SEC is of paramount importance.

The submission of such audited FS is compulsorily required by SEC. In the case of 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, certain guidelines should be followed in accordance with protocols.

Audits constitute an integral part of SEC's monitoring. In the composition of the SEC audit committee, a financial expert commonly plays a vital role. The SEC has a strong influence over audits, one of its primary powers.

As for the annual audit filing of broker-dealer with the SEC, compliance with this requirement is a significant aspect of the SEC regulations.

When auditing the financial records 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.

In explaining 'SEC' in the audit context, it outlines the U.S. Securities and Exchange Commission, an authoritative body governing audits.

Even in places like Texas, the SEC holds sway in regulatory matters. In conclusion, clarity regarding FTX's auditor read more to understanding SEC's influence, audit norms and protocols carry great weight in the finance industry."

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