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Agreement reached on the EU audit reform

The Lithuanian presidency of the Council of the European Union (EU) and the European Parliament have agreed on the framework of the EU audit reform this morning, the EU Council has announced.

If the Committee of Permanent Representatives (COREPER) also agrees to the package, it will then be subject to a parliamentary vote in February before it can be published in the official journal.

In a statement, the EU Council said: "The framework of EU audit reform is preliminary agreed during the final trilogue by the Lithuanian EU Council Presidency and the European Parliament and is subject to the final agreement by member states in COREPER meeting later this week."

Details of the package are yet unknown and will only be made public once approved by member states.

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