New provisions defining "independence" for non-executive directors in a revised corporate governance code could affect one-fifth of FTSE 100 chairs.

This week saw the release of a new draft code for UK corporate governance. While many were distracted by measures on executive pay, the code's real mission is social "injustices", as highlighted by Theresa May last year.

Analysis reveals that two-thirds of the top 100 in France have reported under the new Article 173 requirements, while 31 lag behind.

Shareholders say accountants are not qualified to examine the "broad terrain" of corporate governance compliance.

Proposed new governance code broadly welcomed for emphasis on corporate culture and strengthening shareholders' and workers' voices, but there is a call for more to be done on executive pay.

The proposed new corporate governance code is shorter and focuses on company culture, extending boardroom responsibility beyond shareholders and ensuring companies work for long-term sustainability.

Aligning wider workforce pay in relation to executive remuneration should be tasked to non-executives under a revised Corporate Governance Code, suggests the Financial Reporting Council.

Accountancy's watchdog tells Treasury Select Committee it should have been more proactive in delving into KPMG's audit work of HBOS—but lessons have been learned.

Better reporting is needed to support "long-term" investment, says the UK government, but it is criticised for failing to mention human capital in its long-anticipated Industrial Strategy.

Report from accounting watchdog proposes lifting the maximum fines for Big Four audit firms to £10m or more in cases involving "seriously poor audit work".

Financial Reporting Council will look at the disclosure of Brexit risks as part of its next thematic reviews.

Abenomics brought a host of changes to Japan, not least the introduction of a new stewardship code for investors. The code is now being updated with new guidance, explains Kerrie Waring of the ICGN.

Senior figures from The Children's Investment Fund are set to meet the London Stock Exchange board next week to discuss the departure of chief executive Xavier Rolet.

US Department of Justice publishes charges of foreign bribery against three former Rolls-Royce executives and two consultants.

With South Africa's economy facing more tough times ahead, an increased focus on stewardship is vital. King IV should be used as a platform for good governance practices, argues Robert Lewenson.

The debate over good governance should be led by practitioners, not regulators, but companies need a deeper understanding of how their boards operate, says Ken Olisa of the Institute of Directors.

The US markets regulator approves new standards, which will see auditors reveal their tenure with an organisation and more detail in their audit report.

Despite efforts to trim their bulk, the battle against the ever-increasing length of annual reports has been lost. Meanwhile, companies have also failed to take the opportunities offered by using digital formats, writes Kevin Reed.

All parties in the shareholder communication chain need to prepare for the enhanced requirements of the new Shareholder Rights Directive—and try to influence its local implementation to encourage a harmonised approach. Broadridge’s Demi Derem and Elizabeth Maiellano highlight the key changes and challenges.

One of the most frequent mistakes boards make is failing to realise the importance of culture, but it isn't the only pitfall.