Businesses face radical transparency shake-up
New bill seeks greater disclosure of remuneration practices at private companies
A business law advisory firm expects the Companies Amendment Bill tabled in parliament this week to result in a radical shake-up for private companies when it comes to disclosing directors’ remuneration.
Yaniv Kleitman, director of corporate and commercial at Cliffe Dekker Hofmeyr, said while public and state-owned companies are already expected to be more transparent regarding remuneration policy, a pressing issue was a new provision on the public’s unqualified access to the annual financial statements of private companies. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.