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<p>The Government Response to consultation on ‘<em>Restoring Trust in Audit and Corporate Governance</em>’ set out ambitious proposals to improve audit and corporate governance in the UK. Reform is already underway, and the Financial Reporting Council has made significant changes.</p><p> </p><p>Some of the Government’s plans, including the creation of the Audit, Reporting and Governance Authority, require primary legislation. The Government will legislate when Parliamentary time allows.</p> | ||