SEC Sues Prager Metis Over Auditor Independence Breaches Linked to Crypto Exchange FTX

The accounting company Prager Metis is currently facing a lawsuit from the U.S. Securities and Exchange Commission (SEC) for violating regulations on auditor independence in its dealings with crypto exchange FTX.



According to the SEC Prager Metis provided audit and accounting services simultaneously to its clients over a span of around three years which's against SEC rules. These rules require auditors to maintain independence from their clients in order to avoid potential conflicts.



During the years 2019 to 2021 it is alleged that Prager Metis conducted audits, reviews and examinations while also fulfilling the accounting needs of those same clients. The SEC sees this as a violation of the principles of auditor independence.



While court documents from 2021 do not explicitly mention any companies they indicate that Prager


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