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EY Under Fire Again After Audit Rules Misstep at Shell
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Subscribe07 JUL 2025 / ACCOUNTING & TAXES
EY violated US and UK audit rotation rules during its work for Shell in 2023 and 2024. The error compels Shell to amend two years of SEC filings despite the financial numbers being correct. The slipup occurred because the person signing off on them was supposed to have been rotated out of the position, thereby maintaining auditing objectivity.
Imagine telling your client their financials are fine only to come back later and say, “Actually, don’t rely on what we said.” That’s exactly what happened when EY admitted it had violated US and UK audit rotation rules during its work for Shell in 2023 a...
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