The accounts, due to be published last Friday, were delayed after yet another underestimation of the company’s oil reserves was discovered.
Shell said speculation that KPMG would not sign off the accounts was untrue as they had not yet been given to the auditor. It claimed that it first needed to clarify information about the reserves, according to The Times.
The delay will see further pressure on the board to remove executives implicated in the misreporting of reserves, including chief financial officer Judy Boynton. The company is due to meet with concerned investors at the headquarters of the Association of British Insurers today.
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