The U.S. SEC has filed a lawsuit against the accounting firm Prager Metis

Pooja193 · Post time 4-10-2023 13:13:26

On October 1st, according to a statement, the U.S. Securities and Exchange Commission (SEC) has filed a legal lawsuit against an accounting firm that previously provided services to the now-dissolved cryptocurrency exchange platform FTX. The SEC alleges that Prager Metis provided audit services to its clients without maintaining the necessary independence because it continued to provide accounting services, a practice prohibited by auditor independence frameworks. While the statement does not explicitly mention FTX or any other clients, it does emphasize that there were purportedly "hundreds of instances" of violations of auditor independence throughout the three-year period.

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