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EY loses $66 Mn Shell contract to PwC after auditor rotation breach
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EY loses $66 Mn Shell contract to PwC after auditor rotation breach
Shell’s lead audit partner at EY had been involved long before his official start, triggering a rotation breach. The 2023 and 2024 audit opinions were legally non-independent, despite the numbers being correct. EY lost Shell’s $66M-a-year contract, four partners exited, and regulators opened probes, as first reported by the Financial Times. Rotation clock nobody noticed Gary Donald officially became Shell’s lead audit partner in 2021. On paper, …
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