"When inquiring about FTX, one might ask, “Who was the auditor for FTX?”. In line with the SEC's accounting and auditing enforcement, the audited financial statement (FS) submission to the SEC plays a critical role.
It's a requirement by SEC to submit these audited FS. In the case of 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. The SEC has a strong influence over audits, one of its primary powers.
As for the annual audit filing of broker-dealer with audited financial statement sec the SEC, the commitment to these requirements serves as a major aspect of SEC rulings.
The auditing of FTX financial statements is seen in light of these rules and regulations, acknowledging the bond between FTC and SEC.
Usually, SEC's accreditation is needed for an entity to act as an audit client in the US. SEC also recognizes external auditors bringing forth robust quality control in audited financial documents.
In explaining 'SEC' in the audit context, it means the U.S. Securities and Exchange Commission, an organization that regulates audits.
In areas including Texas, SEC's dominion reigns when it comes to regulatory concerns. In conclusion, clarity regarding FTX's auditor to understanding SEC's influence, audit norms and protocols carry great weight in the finance industry."