Firms extract $238m from BP
Oil giant pays out massive fees to major accounting firms, annual report discloses
Oil giant BP paid accounting firms $238m (£136m) last year.
The UK’s largest company by market capitalisation disclosed the numbers in
its annual report yesterday.
Auditors Ernst & Young in the UK earned $40m, $27m of it for audit and
audit related services, and $13m for other services. Worldwide, its total
earnings from BP were $87m.
BP also disclosed that it paid other major firms of accountants other than E
&Y a total of $151m.