"When inquiring about FTX, one might ask, “Who was the auditor for 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.
It's a requirement by SEC to submit these audited FS. In the case of 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, certain guidelines should be followed in accordance with protocols.
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, conformity with these regulations is one of the significant issues under the purview of SEC.
The auditing of FTX financial statements is supervised under these regulations, considering the link between the 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.
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. Overall, knowing the auditor of FTX and understanding SEC's impact, the audit processes and standards bear great significance in the check here financial sector."