"When FTX is under discussion, a common question to arise is, “Who performed the audit on FTX?”. As a component of the SEC accounting and auditing enforcement procedures, a crucial part resides in the submission get more info of audited FS to SEC.
SEC mandates the submission of these audited FS. These SEC audited financial statements it helps in establishing accountability and transparency of the organization concerned.
In case anyone seeks how to submit audited FS to the 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.
As for the annual audit filing of broker-dealer with the SEC, conformity with these regulations is one of the significant issues under the purview of SEC.
The auditing of FTX financial statements is supervised under these regulations, considering the link between the FTC and SEC.
Usually, SEC's accreditation is needed for an entity to act as an audit client in the US. 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.
Even in places like Texas, the SEC holds sway in regulatory matters. Overall, knowing the auditor of FTX and understanding SEC's impact, the audit processes and standards bear great significance in the financial sector."