Metis

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<ul class="news-points"> 
 <li>The US SEC initiated legal scrutiny over the FTX auditor Prager Metis.</li> 
 <li>The charges include the violation of auditor independence rules and assistance in clients’ violation of federal securities laws.</li> 
 <li>Prager Metis had been providing auditor services to its clients without maintaining independence from its clients.</li> 
</ul> 
The US Securities and Exchange Commission (SEC) has initiated legal scrutiny over the public accounting and consulting firm Prager Metis for allegedly breaching auditor independence rules and encouraging clients’ violation of federal securities laws. 
In an official <a href="https://www.sec.gov/news/press-release/2023-214" target="_blank" rel="nofollow">statement released</a> on September 29, the SEC unveiled that Prager Metis had been providing auditor services to its clients without maintaining independence from its clients; this practice is forbidden according to the auditor independence framework. From December 2017 to October 2020, the platform reportedly included improper “indemnification provisions in engagement letters” for nearly 200 audits. The statement further claimed, 
<blockquote class="wp-block-quote"> 
 “The SEC alleges that Prager continued to sign engagement letters containing indemnification provisions and also issued “accountant’s reports” i…
</blockquote>
The post <a rel="nofollow" href="https://coinedition.com/sec-charges-ftx-auditor-for-auditor-independence-breach-report/">SEC Charges FTX Auditor for Auditor Independence Breach: Report</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

SEC Charges FTX Auditor for Auditor Independence Breach: Report

Coin Edition

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