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<p>The Government’s White Paper on “Restoring Trust in Audit and Corporate Governance:
Proposals for Reform” was published in March this year and proposed the introduction
of managed shared audit as part of a package of measures, which together aim to improve
corporate governance, quality of accounting, auditing and their regulation, and competition
and resilience in in the FTSE 350 audit market, for the UK’s largest companies.</p><p>
</p><p>The Government is currently considering all submissions from stakeholders,
in response to the White Paper and will publish a Government response to the consultation
in due course.</p>
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