EU consultation on directors' remuneration including disclosures

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01 Mar 2004

The European Commission has undertaken a Public Consultation on directors' remuneration, including the questions of (a) how each EU listed company should disclose in its annual accounts and annual report (or in the notes to the annual accounts) the remuneration policy for directors for the next financial year and (b) which elements, for example the performance-related elements of directors' remuneration, supplementary pensions, and contract policy, should be included in that disclosure? The IASB's recent amendments to IAS 24 include a requirement to disclose key management personnel compensation (amounts, but not policies) in total and subdivided into five categories.

IFRS 2 also requires some disclosures about equity compensation arrangements (though not policies). Link to the full Consultation Paper. Comments are due 12 April 2004.

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