Shell changes US files after auditor problem

Shell plc recently filed amendments to its Form 20-Fs for the years 2023 and 2024 with the US Securities and Exchange Commission (SEC), following a disclosure by the company’s independent auditor, Ernst & Young LLP (EY). These amendments, termed “2023/24 Form 20-F/As,” are now accessible for download from both Shell’s investor relations site and the SEC’s official platform.

EY had notified Shell that its lead audit partner exceeded the maximum service period allowed under the SEC’s audit partner rotation requirements in 2023 and 2024, necessitating these amendments. Despite this procedural oversight, Shell clarified that no changes are necessary for its prior financial statements for those years. EY has since appointed a new lead audit partner and issued unqualified US audit opinions, signifying their approval of Shell’s financial statements without reservation.

Shell emphasized that this issue relates to auditor compliance and is not indicative of any shortcomings in its financial reporting accuracy or integrity. Printed copies of the revised 2023/24 Form 20-F/As are slated to be available as of August 15, 2025, and can be requested at no cost through Shell’s investor relations website. Interested parties can also view or download the 2024 Annual Report and Accounts, as well as previous reports, in PDF format from the same online portal.

Additionally, EY noted a similar partner rotation transgression under the UK Financial Reporting Council regulations but assured that no amended filings are warranted in the UK. The matter will be addressed directly by EY and the relevant UK regulatory authorities. Shell’s prompt rectification and the absence of any alterations to its financial statements or audit opinions reassure stakeholders of the minimal material impact this issue poses to the company’s financial standing and investor confidence.

The situation has unfolded smoothly, reflecting Shell’s commitment to transparency and rectifying discrepancies swiftly. By ensuring that its financial statements and audits remain consistent and accurate, Shell has demonstrated its continued dedication to upholding high standards of financial reporting and compliance. This incident underscores the importance of adherence to regulatory requirements and reinforces the reliability of Shell’s financial reporting processes. Overall, this timely response showcases Shell’s proactive approach in maintaining the trust and confidence of its investors amidst occasional regulatory challenges.