Firms pocket millions for Shell work

Financial Director

Kevin Reed, Accountancy Age 04 Apr 2005

Oil company Shell pays record-breaking amount for audit work during one of the most controversial periods in its history.

KPMG and PwC pocketed $70m (£37m) for their work with Shell during its troubled last 12 months, according to the oil company’s latest filing with the SEC.
The basic audit fee of £22m, awarded by Shell, is one of the biggest ever paid out by a British company, up from £17m in 2003.

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