EY Faces FRC Investigation Over Shell Audit

EY, one of the worlds largest accounting firms, is under fire again, this time from the Financial Reporting Council (FRC). The FRC is investigating EYs audit of Shells financial accounts, marking the sixth active investigation into the firm. This comes after EY admitted that senior partners, including Gary Donald, had exceeded the regulatory limit on how long they can serve as lead auditors. Despite knowing this, Donald signed off on Shells accounts for 2023 and 2024, leading to a re-publication of the annual report. The FRC is now examining if the partner rotation rules were breached, adding to EYs recent scrutiny over unauthorized audits.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.