{"id":444540,"date":"2023-10-02T09:17:47","date_gmt":"2023-10-02T09:17:47","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=444540"},"modified":"2023-10-02T16:19:10","modified_gmt":"2023-10-02T16:19:10","slug":"former-ftx-accountant-prager-metis-sued-by-sec","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/former-ftx-accountant-prager-metis-sued-by-sec","title":{"rendered":"Former FTX Accountant Prager Metis Sued By SEC"},"content":{"rendered":"

Former FTX accountant Prager Metis was sued by the US Securities and Exchange Commission (SEC) for violating auditor independence rules and aiding and abetting its clients’ violations of federal securities laws.<\/p>\n

Prager Metis improperly included indemnification provisions in engagement letters for more than 200 audits, reviews, and exams between approximately December 2017 and October 2020, the SEC said.<\/a> Prager thus failed to maintain its independence from its clients as required under federal securities laws, it added<\/p>\n

“Over a period of nearly three years, Prager’s audits, reviews, and exams fell short of these fundamental principles,” it said. “Auditor independence is crucial to investor protection.”<\/p>\n

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Today we announced charges against international accounting firm Prager Metis for committing hundreds of auditor independence violations. https:\/\/t.co\/P7mBzw96x6<\/a><\/p>\n

— U.S. Securities and Exchange Commission (@SECGov) September 29, 2023<\/a><\/p><\/blockquote>\n