Describe the role of the SEC in society and discuss its relationship with and influence on the practice of auditing.

The SEC regulates the financial markets by controlling who can participate and enforcing regulation that govern that participation. This allows for information to get published to give access to potential investors.

Explanation:

For example, the SEC approves all rules and standard for the Public Company Accounting Oversight Board. The PCAOB oversees the compliance requirements and audits of public companies which provides transparent insight for potential investors so they can be more prudent with their investments.