"When we who was the auditor for ftx 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 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 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 make up a significant observation field for the SEC. In the composition of the SEC audit committee, a financial expert commonly plays a vital role. Influencing audits forms one of the key powers that the SEC holds.
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 these regulations, given the interconnection 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.
In explaining 'SEC' in the audit context, 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. In conclusion, clarity regarding FTX's auditor to understanding SEC's influence, audit norms and protocols carry great weight in the finance industry."