"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, the audited financial statement check here (FS) submission to the SEC plays a critical role.
SEC mandates the submission of these audited FS. When it comes to these SEC's audited financial documents, they facilitate the accountability and transparency of the related business entity.
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. The SEC audit committee usually includes a financial expert as an integral member. One of the significant authorities of the SEC lies in its influence over audits.
In terms of the broker-dealer annual audit filing with the SEC, the commitment to these requirements serves as a major aspect of SEC rulings.
Auditing financial statements 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. 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 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."