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18-11-2022, 09:49 AM
Auditors will never be able to find out how an X sum of money were dispensed if there is no documentation.
There are other further diggings which said that employees used corporate funds to buy homes for their own.
Para 1 is a question. Who was the auditor auditing FTX, if there are no documentation on how funds had been spent/disbursed how did the external auditor approve the year end accounts annually. I will be checking on the quality of work of the US external auditor. This is because it was found there was a lack of documentation and yet auditors passed the accounts. A credible auditor would have flagged out the absence of documentations or post-dated documentation.
There are other further diggings which said that employees used corporate funds to buy homes for their own.
Para 1 is a question. Who was the auditor auditing FTX, if there are no documentation on how funds had been spent/disbursed how did the external auditor approve the year end accounts annually. I will be checking on the quality of work of the US external auditor. This is because it was found there was a lack of documentation and yet auditors passed the accounts. A credible auditor would have flagged out the absence of documentations or post-dated documentation.