Walter van de Vijver, former head of exploration and production for Shell, who left the company last month, said he communicated concerns about the booking of oil reserves in February 2002.
According to the New York Times he sent a memo to the company’s top executives, which said one billion barrels of reserves ‘are no longer fully aligned’ with another 1.3 million barrels at risk.
In January this year, an erroneous booking resulted in the company cutting 3.9 billion barrels, or 20%, from the reserves it claimed in US Securities and Exchange Commission filings.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements