Shell plc (SHEL) announced that, after a competitive audit tender led by its Audit and Risk Committee, the Board has approved the proposed appointment of PricewaterhouseCoopers LLP (PwC) as external auditor effective for the financial year ending 31 December 2027, subject to shareholder approval at the 2027 Annual General Meeting.
Ernst & Young (EY) will remain external auditor for the financial year ending 31 December 2026, subject to shareholder approval at the 2026 Annual General Meeting. The tender outcome was communicated to participants on 5 February 2026. Further details will appear in the 2025 Annual Report and Form 20-F.
This announcement outlines Shell’s planned transition from EY to PwC as external auditor starting wi...
Analysis
This announcement outlines Shell’s planned transition from EY to PwC as external auditor starting with the financial year ending December 31, 2027, subject to shareholder approval at the 2027 AGM. EY will continue through the 2026 financial year and has issued only unqualified reports over the past two years with no reported disagreements. In context of recent buy-back and capital-structure disclosures, investors may track future annual reports for any changes in audit findings or control assessments.
Key Figures
New auditor effective year:Financial year ending December 31, 2027Current auditor final year:Financial year ending 31 December 2026Tender start:Beginning of Q4 2025+4 more
7 metrics
New auditor effective yearFinancial year ending December 31, 2027PwC to become external auditor from this financial year, subject to approval
Current auditor final yearFinancial year ending 31 December 2026EY to remain external auditor through this financial year, subject to approval
Tender startBeginning of Q4 2025Competitive audit tender process initiated at this time
Auditor decision dateFebruary 5, 2026Audit tender participants informed of outcome on this date
Look-back periodPast two yearsPeriod over which only unqualified reports were issued by EY
2027 AGM2027 Annual General MeetingShareholder vote on PwC appointment scheduled for this meeting
2026 AGM2026 Annual General MeetingShareholder vote on EY’s 2026 appointment scheduled for this meeting
Detailed 1,313,901 shares bought for cancellation on LSE and XAMS.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Recent disclosures have focused on share buy-backs and voting rights, with generally modest single-day price reactions around these updates.
Recent Company History
Over the past weeks, Shell’s news flow has been dominated by buy-back disclosures and capital structure updates. Between Jan 26–30, 2026, multiple "Transaction in Own Shares" notices detailed repurchases of roughly 1.1–1.4 million shares per day across LSE and XAMS, plus a Voting Rights and Capital update confirming 5,687,196,643 ordinary shares. Price reactions to these items were modest, suggesting routine corporate actions rather than major strategic shifts. Today’s auditor appointment sits alongside this backdrop of governance and capital-management news.
Regulatory & Risk Context
Short Interest: 1.03%
Short Interest
1.03% of shares outstanding
as of 2026-05-29Days to cover: 3.91
Key Terms
audit tender, external auditor, unqualified reports, internal control over financial reporting
4 terms
audit tenderfinancial
"announces that, following the conclusion of a competitive audit tender process initiated"
An audit tender is the formal process where a company asks accounting firms to submit proposals to serve as its external auditor, specifying the scope, timing and price of the audit work. Investors pay attention because selecting or changing an auditor can affect the thoroughness and independence of financial checks, influence audit costs and continuity, and signal how seriously management treats financial oversight—much like a homeowner comparing contractors to ensure trustworthy work at a fair price.
external auditorfinancial
"PwC as its external auditor to take effect from, and including, the financial year"
An external auditor is an independent, third-party professional who reviews a company’s financial records and reports to confirm they are accurate and follow the rules. Like a home inspector checking a house before you buy, an external auditor gives investors assurance that the numbers reflect reality, which affects trust, the perceived risk of the company, and therefore investment decisions and value.
unqualified reportsfinancial
"During the past two years, only unqualified reports on the Company’s consolidated financial"
Unqualified reports are formal assessments—most often audit opinions—stating that a company’s financial statements are accurate and free of major errors or omissions. For investors, an unqualified report is like a trusted inspector saying the numbers are reliable, which reduces uncertainty about the company’s financial health and lowers the risk that hidden problems will erode value or trigger regulatory trouble.
internal control over financial reportingfinancial
"or effectiveness of internal control over financial reporting were issued by EY and there"
Internal control over financial reporting is a company’s system of procedures and checks designed to make sure its financial statements are accurate and complete, like a set of guardrails and verification steps that catch mistakes or fraud before numbers are published. Investors care because strong controls make reported results more trustworthy, lower the risk of surprise restatements or regulatory problems, and give greater confidence when valuing the company or comparing it to peers.
Shell plc (the Company) announces that, following the conclusion of a competitive audit tender process initiated at the beginning of Q4 2025 and led by the Audit and Risk Committee, the Board has approved the proposed appointment of Pricewaterhouse Coopers LLP ("PwC") as its external auditor to take effect from, and including, the financial year ending December 31, 2027. The appointment is subject to shareholder approval at the Company’s 2027 Annual General Meeting.
EY will continue in its role as external auditor for the financial year ending 31 December 2026, subject to shareholder approval at the Company’s 2026 Annual General Meeting.
Notes to editors
During the past two years, only unqualified reports on the Company’s consolidated financial statements or effectiveness of internal control over financial reporting were issued by EY and there were no disagreements with EY related to accounting matters, financial statement disclosure, or their audit.
The audit tender participants were informed of the tender outcome on February 5, 2026. Further details of the audit tender process will be provided in the Company's 2025 Annual Report and Accounts and Form 20-F.
Enquiries
Shell Media Relations
International, UK, European Press: +44 (0)20 7934 5550
FAQ
Who will be Shell plc's external auditor for the financial year ending 31 December 2027 (SHEL)?
PwC has been approved by the Board as the proposed external auditor for FY2027. According to the company, the appointment is subject to shareholder approval at the 2027 Annual General Meeting and follows a competitive tender process led by the Audit and Risk Committee.
Will EY remain Shell plc's auditor for the financial year ending 31 December 2026 (SHEL)?
Yes, EY will continue as external auditor for FY2026 pending shareholder approval. According to the company, EY remains in place subject to approval at the 2026 Annual General Meeting and has issued unqualified reports in the past two years.
When was the audit tender outcome communicated to participants in the Shell plc (SHEL) process?
The audit tender participants were informed on 5 February 2026. According to the company, that communication followed a competitive tender initiated at the start of Q4 2025 and led by the Audit and Risk Committee.
Where will Shell plc disclose further details of the 2025 audit tender and appointment (SHEL)?
Further details will be included in Shell's 2025 Annual Report and Form 20-F. According to the company, the full tender process and relevant information will be published in those regulatory filings.
Does the Shell plc (SHEL) announcement indicate any disagreements with EY during recent audits?
No disagreements with EY were reported in the announcement. According to the company, EY issued only unqualified reports on consolidated financial statements and on internal control effectiveness during the past two years.
