Finance
Shell Picks PwC as Auditor to Replace Ey
Published by Global Banking & Finance Review®
Posted on February 6, 2026
1 min readLast updated: February 6, 2026
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Published by Global Banking & Finance Review®
Posted on February 6, 2026
1 min readLast updated: February 6, 2026
Add as preferred source on GoogleShell appoints PwC as its new auditor from 2027, replacing EY amid regulatory compliance issues and an ongoing investigation by the Financial Reporting Council.
LONDON, Feb 6 (Reuters) - Shell has chosen PricewaterhouseCoopers (PwC) as its next auditor after a tender process, with PwC set to replace EY from 2027, the oil major said on Friday.
Britain's Financial Reporting Council said in December it had opened an investigation into EY's audit of Shell's 2024 financial statements over potential breaches of audit partner rotation rules.
Shell said in a July regulatory filing that there had been a breach of rules that require listed companies to change the lead audit partner every five to seven years and impose cooling-off periods before they can return.
At the time, the company also said it would amend its 2023 and 2024 annual reports after EY failed to comply with U.S. Securities and Exchange Commission rules on partner rotation, though its financial statements would remain unchanged.
Shell and EY did not immediately respond to a request for further comment.
(Reporting by Shadia Nasralla. Editing by Mark Potter)
An auditor is a professional who examines financial records and statements to ensure accuracy and compliance with established standards and regulations.
Regulatory compliance refers to the process of adhering to laws, regulations, guidelines, and specifications relevant to an organization's operations.
Audit partner rotation is a requirement that mandates the lead audit partner of a firm to be replaced after a certain period, typically every five to seven years, to ensure independence.
A breach of compliance occurs when an organization fails to adhere to laws, regulations, or internal policies, potentially leading to legal penalties or reputational damage.
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