"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.
The submission of such audited FS is compulsorily required by SEC. These SEC audited financial statements they facilitate the accountability and transparency of the related business entity.
In case anyone seeks how to submit audited FS to the SEC, certain guidelines should be click here followed in accordance with protocols.
Audits make up a significant observation field for the SEC. The SEC audit committee usually includes a financial expert as an integral member. 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, compliance with this requirement is a significant aspect of the SEC regulations.
When auditing the financial records of FTX falls under the oversight of these regulations, given the interconnection between the FTC and SEC.
To serve as an audit client in the US, SEC's endorsement is usually required. SEC also certifies external auditors, thereby enhancing quality checks in audited financial statements.
In explaining 'SEC' in the audit context, it represents the U.S. Securities and Exchange Commission, a regulatory body that oversees 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."