Summary by Moomoo AI
Chevron Corporation (Chevron) has announced the appointment of PricewaterhouseCoopers LLP (PwC) as its independent registered public accounting firm for 2024. The Audit Committee, responsible for the appointment and oversight of the auditor, has endorsed this selection. The Committee annually reviews PwC's performance and independence, considering factors such as the quality of audit plans, expertise in handling Chevron's operations, and the firm's independence and objectivity. PwC has audited Chevron's financial statements and internal control over financial reporting for the years ended December 31, 2023, and 2022. The Audit Committee believes retaining PwC benefits Chevron due to their extensive knowledge of Chevron's business and the efficiencies gained in the audit process. The Committee also manages potential risks associated with PwC's tenure through strong internal and regulatory controls. The Board of Directors has recommended that stockholders vote in favor of ratifying PwC's appointment at the upcoming annual meeting scheduled for May 29, 2024.