Audit of EnQuest PLC – climate change-related trends and risks

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.

• 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.
• 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.
• 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.
• 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.
• ClientEarth has formally submitted a complaint to the Financial Reporting Council (FRC) regarding the omissions in EnQuest's reporting.

APA

ClientEarth (2018). Audit of EnQuest PLC – climate change-related trends and risks. https://www.clientearth.org/media/4a5a1guh/letter-to-ey-regarding-enquest-plc-audit-ce-en.pdf

Chicago

ClientEarth. Audit of EnQuest PLC – climate change-related trends and risks. 2018. https://www.clientearth.org/media/4a5a1guh/letter-to-ey-regarding-enquest-plc-audit-ce-en.pdf.

Wikipedia

{{cite press release |author=ClientEarth |title=Audit of EnQuest PLC – climate change-related trends and risks |date=5 September 2018 |url=https://www.clientearth.org/media/4a5a1guh/letter-to-ey-regarding-enquest-plc-audit-ce-en.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{clientearth2018audit, author = {{ClientEarth}}, title = {{Audit of EnQuest PLC – climate change-related trends and risks}}, publisher = {ClientEarth}, year = {2018}, month = sep, url = {https://www.clientearth.org/media/4a5a1guh/letter-to-ey-regarding-enquest-plc-audit-ce-en.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }