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<p>Modern companies rely on many stakeholders to be successful, including shareholders,
employees and wider society. The UK already has a requirement in existing company
law that these wider stakeholders be taken into account. To ensure companies are taking
advantage of this best practice, the government will require Directors to explain
how they are representing the interests of wider stakeholders. In addition, the government
has asked the Financial Reporting Council to examine potential changes to the corporate
governance code in order to further strengthen the voice of stakeholders.</p>
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