"When we talk about FTX, a check here common question arises, "Who audited the FTX?". As a component of the SEC accounting and auditing enforcement procedures, a crucial part resides in the submission of audited FS to SEC.
The submission of such audited FS is compulsorily required by SEC. These SEC audited financial statements it helps in establishing accountability and transparency of the organization concerned.
If one wonders how to submit audited FS to SEC, there exists a set of protocols and guidelines that should be adhered to.
An important area of interest for the SEC is audits. 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.
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.
Auditing financial statements of FTX is seen in light of these rules and regulations, acknowledging the bond between FTC and SEC.
To serve as an audit client in the US, SEC's endorsement is usually required. SEC also certifies external auditors, thereby enhancing quality checks in audited financial statements.
When it comes to defining 'SEC' in terms of an audit, it means the U.S. Securities and Exchange Commission, an organization that regulates 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."