BP p. (NYSE: BP) to re-appoint Deloitte as statutory auditor from 2028
Rhea-AI Filing Summary
BP p. reports that its Board has concluded a formal audit tender process and confirmed the re-appointment of Deloitte LLP as statutory auditor with effect from the 2028 financial year onwards. This re-appointment will only take effect if approved by shareholders at the 2027 Annual General Meeting.
BP p. notes that, in line with applicable legislation, the statutory audit must be tendered every 10 years and the auditor must rotate every 20 years. Deloitte was initially appointed as BP p.’s statutory auditor from the 2018 financial year. Further information on the audit tender process will appear in the company’s 2026 Annual Report and Accounts.
Positive
- None.
Negative
- None.
Key Figures
Effective audit year: 2028 financial year
Shareholder approval year: 2027
Initial Deloitte appointment: 2018 financial year
+2 more
5 metrics
Effective audit year
2028 financial year
Start of Deloitte’s re-appointed term as BP p.’s statutory auditor, subject to approval
Shareholder approval year
2027
Year of the Annual General Meeting at which Deloitte’s re-appointment must be approved
Initial Deloitte appointment
2018 financial year
Year from which Deloitte first served as BP p.’s statutory auditor
Audit tender requirement
every 10 years
Frequency with which BP p. must tender its statutory audit under applicable legislation
Audit rotation limit
every 20 years
Maximum period before statutory auditor rotation required by applicable legislation
Key Terms
Form 6-K, statutory auditor, audit tender process, Annual General Meeting
4 terms
Form 6-K regulatory
"SECURITIES AND EXCHANGE COMMISSION Form 6-K Report of Foreign Issuer"
A Form 6-K is a report that companies listed in certain countries file to provide important updates, such as financial results, corporate changes, or other significant information, to regulators and investors. It functions like an official company update or news release, helping investors stay informed about developments that could affect their investment decisions.
statutory auditor regulatory
"formal tender process for the role of statutory auditor, the Board has confirmed"
A statutory auditor is an independent, legally required accountant who examines a company’s financial records and issues an official opinion on whether the financial statements give a true and fair view. Investors rely on this check as a trusted third-party stamp—like a certified inspection—because it reduces the chance that errors, omissions or rule-breaking will mislead people making investment decisions.
audit tender process financial
"following the conclusion of a formal tender process for the role"
Annual General Meeting financial
"re-appointment is subject to shareholder approval at the 2027 Annual General Meeting"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did BP (BP) decide about its statutory auditor?
BP p.’s Board confirmed the re-appointment of Deloitte LLP as the company’s statutory auditor, effective from the 2028 financial year, subject to shareholder approval at the 2027 Annual General Meeting following a formal audit tender process.
When does Deloitte’s renewed statutory audit role at BP (BP) begin?
Deloitte’s renewed role as BP p.’s statutory auditor is set to begin with the 2028 financial year. This appointment is conditional on shareholders approving Deloitte’s re-appointment at BP p.’s 2027 Annual General Meeting in accordance with applicable legislation.
Why did BP (BP) run an audit tender process?
BP p. states that, under applicable legislation, the statutory audit must be tendered every 10 years and the auditor must rotate every 20 years. The recently concluded formal audit tender process was conducted to comply with these regulatory requirements.
Since when has Deloitte been BP’s (BP) statutory auditor?
Deloitte LLP was initially appointed as BP p.’s statutory auditor with effect from the 2018 financial year. The Board now intends to continue with Deloitte from the 2028 financial year, subject to shareholder approval at the 2027 Annual General Meeting.
Where will BP (BP) provide more detail on the audit tender process?
BP p. indicates that information on the audit tender process will be included in the company’s 2026 Annual Report and Accounts. That report will provide additional narrative on how the tender was conducted and how the decision on Deloitte was reached.