Directors, prescribed officers, remuneration committee members, and companies whose financial statements are audited should take note of recent amendments to the Companies Act.
The amendments introduce more detailed disclosure requirements relating to directors’ remuneration, employee pay information and wage ratios. Public and state-owned companies face additional reporting obligations, while the so-called “two-strike rule” may have direct consequences for non-executive directors serving on remuneration committees.
While greater transparency is important, some of these requirements may go too far and could politicise decisions that shareholders are required to make.
Nicola Malan unpacks these amendments in the video below.
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