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Home > Finance > Shell picks PwC as auditor to replace EY

Shell picks PwC as auditor to replace EY

Published by Global Banking & Finance Review®

Posted on February 6, 2026

1 min read

Last updated: February 6, 2026

Shell picks PwC as auditor to replace EY - Finance news and analysis from Global Banking & Finance Review

Tags:Appointment compliance financial reporting

Quick Summary

Shell appoints PwC as its new auditor from 2027, replacing EY amid regulatory compliance issues and an ongoing investigation by the Financial Reporting Council.

Shell picks PwC as auditor to replace EY

Shell's Auditor Transition

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.

Investigation into EY's Audit

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.

Regulatory Compliance Issues

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.

Future Reporting Amendments

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)

Key Takeaways

•Shell appoints PwC as its new auditor starting in 2027.
•EY faces investigation over audit partner rotation breaches.
•Shell will amend its 2023 and 2024 reports due to compliance issues.
•The Financial Reporting Council is investigating EY's audits.
•Shell and EY have not commented on the ongoing investigation.

Frequently Asked Questions about Shell picks PwC as auditor to replace EY

1What is an auditor?

An auditor is a professional who examines financial records and statements to ensure accuracy and compliance with established standards and regulations.

2What is regulatory compliance?

Regulatory compliance refers to the process of adhering to laws, regulations, guidelines, and specifications relevant to an organization's operations.

3What is audit partner rotation?

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.

4What is a breach of compliance?

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.

Shell's Auditor Transition

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.

Investigation into EY's Audit

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.

Regulatory Compliance Issues

Future Reporting Amendments

Shell and EY did not immediately respond to a request for further comment.

(Reporting by Shadia Nasralla. Editing by Mark Potter)

Key Takeaways

•Shell appoints PwC as its new auditor starting in 2027.

•EY faces investigation over audit partner rotation breaches.

•Shell will amend its 2023 and 2024 reports due to compliance issues.

•The Financial Reporting Council is investigating EY's audits.

•Shell and EY have not commented on the ongoing investigation.

Frequently Asked Questions

1What is an auditor?

An auditor is a professional who examines financial records and statements to ensure accuracy and compliance with established standards and regulations.

2What is regulatory compliance?

Regulatory compliance refers to the process of adhering to laws, regulations, guidelines, and specifications relevant to an organization's operations.

3What is audit partner rotation?

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.

4What is a breach of compliance?

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.