Businesses face radical transparency shake-up
New bill seeks greater disclosure of remuneration practices at private companies
03 September 2023 - 07:33
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. ..
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