The Securities and Exchange Commission (SEC) has recently disclosed two settled enforcement actions against Prager Metis CPAs, an audit firm linked to FTX, the now-defunct crypto trading platform. The firm’s founder and former CEO, Sam Bankman-Fried, is currently in custody alongside Sean “Diddy” Combs at the Metropolitan Detention Center in Brooklyn. These enforcement actions highlight three important considerations for auditors and accountants: the SEC’s stance on auditor independence, the qualifications of individuals conducting audits in emerging sectors and the significance … Read the rest
U.S. Courts News Reporter