CSA Australia urges to adopt UK model for disclosing executive pay

CSA has urged the Australian Government to adopt the UK model for disclosing executive remuneration, as investors are best placed to know what disclosures they want and they should be able to work directly with companies to formulate those disclosures.

Current proposals from the Australian Government will see companies having to disclose two differently calculated pay numbers for each executive, resulting in double-counting, as the same figures will be reported in successive years. This is not simplification of remuneration reporting, but additional complexity. In the UK, investors and companies devised new disclosure requirements - they replaced existing requirements, which were repealed. This model works and raises the question - why does Australia keep adding more and more disclosures, piecemeal, with the result that remuneration reports are largely impenetrable to shareholders? ... READ MORE

Released by CSA News Update - 10 April 2012