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Why EY’s Shell Audit Caught the Watchdog’s Attention
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Subscribe17 DEC 2025 / ACCOUNTING & TAXES
The UK's Financial Reporting Council (FRC) has opened yet another investigation into EY, this time about EY's 2024 audit of Shell. The main issue is that EY reportedly violated both UK and US rules regarding mandatory rotation of lead audit partners, a rule intended to maintain independence and avoid the possibility of auditors 'getting too cozy' with company management.
Imagine. You are hosting a dinner party, the same guest keeps showing up year after year, sits in the same chair, knows where the good wine is, and at some point, someone asks, “Uh, shouldn’t this person have rotated out by now?” That, in very accounting...
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