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news-imageSeptember 18, 2024

FTX Auditor Prager Metis to Pay $1.95 Million for Negligence

The SEC alleged that the auditor failed to comply with auditing standards and establish connections between FTX and Alameda Research. The auditor violated rules while auditing over 200 companies between 2017 and 2020.
Publisher: FinanceMagnates
Sentiment: Negative
METIS

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SEC and Prager Metis Settle Charges Related to FTX Audits

The Securities and Exchange Commission (SEC) has announced a settlement with audit firm Prager Metis that includes charges related to the firm's audits of FTX. The settlement resolves two actions, including SEC allegations about the firm's audits of the now-bankrupt cryptocurrency exchange and auditor independence violations, the SEC said in a Tuesday (Sept.

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cover-imageBitcoin
September 17, 2024

SEC Fines Prager Metis $1.95M Over Negligent FTX Audits

The U.S. Securities and Exchange Commission (SEC) has reached a $1.95 million settlement with Prager Metis CPAs LLC and its affiliate over serious allegations related to their audits of crypto exchange FTX. The case highlights critical oversights and violations of key industry standards, raising questions about the firm's practices and the risks it missed.

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