{"query_echo":{"q":"","filters":{"analysis_type":["audit critique"]},"warnings":[{"code":"facet_value_not_in_vocabulary","message":"Value 'audit critique' for facet 'analysis_type' is not in the controlled vocabulary."}]},"total":{"value":2,"relation":"eq"},"page":1,"page_size":20,"self":"https://climateinsightsdirectory.org/api/v1/search?analysis_type=audit+critique","stability":"beta","ai_marking":{"digital_source_type":{"uri":"http://cv.iptc.org/newscodes/digitalsourcetype/trainedAlgorithmicMedia","name":"Created using Generative AI"},"notice":"Summary and key insights are generated using artificial intelligence."},"results":[{"id":"client-000725","url":"https://climateinsightsdirectory.org/document/client-000725","title":"Audit of EnQuest PLC – climate change-related trends and risks","publisher":{"name":"ClientEarth","organization":"clientearth"},"document_type":"statement","language":"en","date_published":"2018-09-05","source_url":"https://www.clientearth.org/media/4a5a1guh/letter-to-ey-regarding-enquest-plc-audit-ce-en.pdf","generator":"Climate Insights Directory","generated_fields":["summary","key_insights","climate_tags","analysis_type"],"summary":{"text":"ClientEarth has challenged Ernst & Young LLP (EY) regarding its audit of EnQuest PLC's 2017 Annual Report and Accounts. ClientEarth contends that EnQuest failed to disclose material risks and trends associated with climate change and the low carbon transition, which should have been identified by EY under International Standards on Auditing (ISAs). The letter argues that EY's own institutional knowledge and public support for the Task Force on Climate-related Financial Disclosures (TCFD) make its failure to flag these omissions particularly problematic. ClientEarth has submitted a complaint to the Financial Reporting Council (FRC) and requested that EY explain its processes for integrating climate risk knowledge into its audit programmes.","ai_generated":true,"unit":"client-000725#summary","date_modified":"2026-10-23"},"key_insights":[{"text":"ClientEarth asserts that EnQuest PLC's 2017 Annual Report contains material misstatements because it fails to refer to climate change or the low carbon transition when describing principal risks, uncertainties, main trends, and long-term viability.","ai_generated":true,"unit":"client-000725#insight-1","date_modified":"2026-10-23"},{"text":"ClientEarth argues that EY should have identified these omissions during its audit, noting that EY is a public supporter of the Task Force on Climate-related Financial Disclosures (TCFD) and has published extensively on the financial implications of climate risks.","ai_generated":true,"unit":"client-000725#insight-2","date_modified":"2026-10-23"},{"text":"The document claims that climate change risks are widely recognised by governments, regulators, investors, and EnQuest's peers, citing Royal Dutch Shell plc's 2017 annual report as an example of comprehensive disclosure on the low carbon transition.","ai_generated":true,"unit":"client-000725#insight-3","date_modified":"2026-10-23"},{"text":"ClientEarth identifies specific International Standards on Auditing (ISAs) that it believes EY failed to apply, including ISA (UK) 200 regarding professional scepticism, ISA (UK) 315 regarding understanding the entity's business risks, and ISA (UK) 720 regarding the audit of 'other information' in annual reports.","ai_generated":true,"unit":"client-000725#insight-4","date_modified":"2026-10-23"},{"text":"ClientEarth has formally submitted a complaint to the Financial Reporting Council (FRC) regarding the omissions in EnQuest's reporting.","ai_generated":true,"unit":"client-000725#insight-5","date_modified":"2026-10-23"}],"climate_tags":["climate change","energy transition","climate finance","petroleum industry"],"geography_discussed":[],"frame_perspective":[],"analysis_type":["legal challenge","audit critique"]},{"id":"client-000732","url":"https://climateinsightsdirectory.org/document/client-000732","title":"Audit of EasyJet PLC – climate change-related trends and risks","publisher":{"name":"ClientEarth","organization":"clientearth"},"document_type":"statement","language":"en","date_published":"2018-09-05","source_url":"https://www.clientearth.org/media/ddmf4o5d/letter-to-pwc-regarding-easyjet-plc-audit-ce-en.pdf","generator":"Climate Insights Directory","generated_fields":["summary","key_insights","climate_tags","analysis_type"],"summary":{"text":"ClientEarth has challenged PwC's audit of EasyJet PLC's 2017 Annual Report, alleging that the report contains material misstatements due to the omission of climate change-related risks and the low carbon transition. ClientEarth contends that as an international airline, EasyJet is materially exposed to these trends, yet the report only provides mandatory greenhouse gas emissions disclosures and a general 'corporate responsibility' discussion. The organization argues that PwC, despite its public support for the Task Force on Climate-related Financial Disclosures (TCFD) and its own expertise in climate risk, failed to apply professional scepticism and judgement as required by International Standards on Auditing (ISAs). ClientEarth has submitted a complaint to the Financial Reporting Council (FRC) and questioned PwC on its processes for integrating climate knowledge into audit programmes and identifying material inconsistencies in strategic reports.","ai_generated":true,"unit":"client-000732#summary","date_modified":"2026-10-23"},"key_insights":[{"text":"ClientEarth alleges that EasyJet PLC's 2017 Annual Report and Accounts failed to provide adequate descriptions of principal risks, main trends, and long-term viability by omitting references to climate change and the low carbon transition.","ai_generated":true,"unit":"client-000732#insight-1","date_modified":"2026-10-23"},{"text":"The document asserts that EasyJet's disclosure is insufficient, as it only includes mandatory greenhouse gas emissions data and a general 'corporate responsibility' section, ignoring broader climate-related risks recognized by peers, regulators, and governments.","ai_generated":true,"unit":"client-000732#insight-2","date_modified":"2026-10-23"},{"text":"ClientEarth argues that PwC's audit report, which stated that the Strategic and Directors' Reports were consistent with financial statements and free of material misstatements, was flawed because it should have identified the omission of climate risks.","ai_generated":true,"unit":"client-000732#insight-3","date_modified":"2026-10-23"},{"text":"PwC is highlighted as having significant institutional expertise and public commitment to climate risk reporting, specifically as a supporter of the Task Force on Climate-related Financial Disclosures (TCFD), which ClientEarth argues should have been applied to the EasyJet audit.","ai_generated":true,"unit":"client-000732#insight-4","date_modified":"2026-10-23"},{"text":"ClientEarth contends that PwC failed to adhere to specific International Standards on Auditing (ISAs), including ISA (UK) 200 regarding professional scepticism, ISA (UK) 315 regarding understanding the entity's environment, and ISA (UK) 720 regarding the audit of 'other information'.","ai_generated":true,"unit":"client-000732#insight-5","date_modified":"2026-10-23"}],"climate_tags":["climate change","energy transition","greenhouse gas emissions"],"geography_discussed":[],"frame_perspective":[],"analysis_type":["legal analysis","audit critique"]}]}