Shell Switches Auditors as EY Probed for Potential Rules Breach

Oil giant Shell plc said Friday it would replace auditor Ernst & Young with PwC from 2027, amid a regulatory investigation into whether EY broke auditor rotation rules.

The FTSE 100 company said EY would remain its auditor until the end of 2026, subject to shareholder approval, with PwC, also known as PricewaterhouseCoopers, taking over after that. EY has been Shell’s auditor since 2016.

In December the UK Financial Reporting Council launched an investigation into whether EY had violated auditor rotation rules in financial year 2024. The oil company told the London Stock Exchange in July that its auditor had ...