SEC Highlights Auditor Independence Importance in Prager Metis Case

From fxdailyreport.com

Prager Metis Accused of Auditor Independence Breaches in FTX Audit Prager Metis’ auditing and accounting services were not independent, according to the SEC on September 29, 2023. To prevent conflicts of interest and ensure financial reporting credibility, financial monitoring requires auditor independence. They lasted for three years, making the case claims considerable. Prager Metis was accused of auditor independence violations in audits, assessments, and testing. The SEC action stresses auditors’ importance to investor protection and financial market integrity. The accusation of several auditor independence ... (full story)