"When inquiring about FTX, one might ask, “Who was the auditor for FTX?”. As a component of the SEC accounting and auditing enforcement procedures, 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 provide transparency and accountability for the respective organization.
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. The SEC has a strong influence over audits, one of its primary powers.
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 falls under the oversight of here these regulations, given the interconnection 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 recognizes external auditors bringing forth robust quality control in audited financial documents.
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.
Even in places like Texas, the SEC holds sway in regulatory matters. To sum up, from understanding who the auditor for FTX was, to comprehending the SEC's influence, audit requirements and procedures are crucial in the world of finance."