"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.
SEC mandates the submission of these audited FS. These SEC audited financial statements they facilitate the accountability and transparency of the related business entity.
If one wonders how to submit audited FS to SEC, there exists a set of protocols and guidelines that should be adhered to.
Audits constitute an integral part of SEC's monitoring. 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, compliance with this requirement is a significant aspect of the SEC regulations.
The auditing of FTX financial statements falls under the oversight of these regulations, given the interconnection between the FTC and SEC.
In the US, it's standard practice for an entity to sec accounting and auditing enforcement require SEC's approval to function as an audit client. SEC also certifies external auditors, thereby enhancing quality checks in audited financial statements.
To clarify what the term 'SEC' refers to in an audit, 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."