"When FTX is under discussion, a common question to arise is, “Who performed the audit on 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. 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, there are guidelines and protocols that need to be followed.
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. Influencing audits forms one of the key powers that the SEC holds.
When it comes to the broker-dealer annual audit filing with SEC, conformity with these regulations is one of the significant issues under the purview of SEC.
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.
When it comes to defining 'SEC' in terms of an audit, 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. To sum up, from understanding who who was the auditor for ftx the auditor for FTX was, to comprehending the SEC's influence, audit requirements and procedures are crucial in the world of finance."