"When FTX is under discussion, a common question to arise is, “Who performed the audit on FTX?”. In the framework of the SEC’s regulatory enforcement on accounting and auditing, the submission of the audited financial statements to SEC is of paramount importance.
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.
In case anyone seeks how to submit audited FS to the SEC, certain guidelines should be followed in accordance with protocols.
Audits make up a significant observation field for sec required audited fs the SEC. 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.
When it comes to the broker-dealer annual audit filing with SEC, conformity with these regulations is one of the significant issues under the purview of SEC.
When auditing the financial records of FTX falls under the oversight of these regulations, given the interconnection 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.
When it comes to defining 'SEC' in terms of an audit, it outlines the U.S. Securities and Exchange Commission, an authoritative body governing audits.
Even in places like Texas, the SEC holds sway in regulatory matters. In conclusion, clarity regarding FTX's auditor to understanding SEC's influence, audit norms and protocols carry great weight in the finance industry."