"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 the framework of the SEC’s regulatory enforcement on accounting and auditing, a crucial part resides in the submission of audited FS to SEC.

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.

If one wonders how to submit audited FS to SEC, there are guidelines and protocols that need to be followed.

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. 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.

The auditing of FTX financial statements is seen in light of these rules and regulations, acknowledging the bond between FTC and SEC.

In the US, it's standard practice for an entity to require SEC's approval to function as an sec accounting and auditing enforcement audit client. SEC also recognizes external auditors bringing forth robust quality control in audited financial documents.

In explaining 'SEC' in the audit context, it means the U.S. Securities and Exchange Commission, an organization that regulates audits.

SEC's influence extends even to places like Texas in terms of regulatory issues. In conclusion, clarity regarding FTX's auditor to understanding SEC's influence, audit norms and protocols carry great weight in the finance industry."

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