The announcement, the second this year, saw Shell admit that its reserves in Norway were 250m barrels under what it had expected. The annual report that was due tomorrow will now not be published until June.
Shares in the group fell 4% on the news, with the company having previously in January announced an overbooking of reserves by 3.9bn barrels, or 20%. The mistake has already seen former chairman Sir Philip Watts pay with his job, and the discovery of another error could put further pressure on chief financial officer Judy Boynton, who has also faced pressure to go.
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