MOSCOW (MRC) -- BP announced that it intends to propose to shareholders at its 2018 Annual General Meeting that Deloitte be appointed as the company’s auditor for the financial year 2018, said Hydrocarbonprocessing.
This decision was taken following a competitive audit tender.
EY, BP’s current external auditor, will continue in its role and will undertake the audit of BP p.l.c. for the financial years 2016 and, subject to reappointment by shareholders at the next Annual General Meeting, 2017.
"I would like to thank EY for their high professional standards and all they have done to provide assurance to the Board and shareholders during their time as BP’s auditors," Brendan Nelson, Chairman of BP’s Audit Committee, said. "Subject to shareholder approval at the 2018 AGM, we look forward to working with Deloitte."
As MRC informed earlier, BP reported a near halving in third-quarter earnings on Tuesday and cut its 2016 investment plans by another USD1 billion as weak oil prices cut into profits yet tighter spending helped the British oil major still beat analysts' estimates.
BP is a leading producer of oil and gas and produces enough energy annually to light nearly the entire country for a year. Employing about 17,000 people across the country, BP supports more than 170,000 additional jobs through all of its business activities.
MRC