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UK watchdog to launch major review into company audit practices

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LONDON (Reuters) – Britain’s accounting watchdog said on Monday it would launch a major review into the way companies are audited to ensure the process better serves the public interest.

The Financial Reporting Council said the review would look at auditor independence, audit quality, the needs of investors and rules on assessing a company’s long-term viability.

(Reporting by Simon Jessop; editing by Jason Neely)

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