UK FRC Probes Audit of Shell by Ernst & Young

The UK’s Financial Reporting Council started an investigation into the statutory audit conducted by Ernst & Young LLP of the consolidated financial statements of Shell for the financial year ended Dec. 31, 2024, according to a statement.

• On July 2, Shell announced to the London Stock Exchange that EY had reported non-compliance with audit partner rotation rules
• The investigation will include consideration of whether Relevant Requirements relating to partner rotation have been breached

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Sachin Ravikumar in London at sravikumar6@bloomberg.net

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Veronica Ek at vek@bloomberg.net ...