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Executive remuneration

A selection of books, articles and guides on executive remuneration including sources of guidance and good practice.

What's on this page?

  • Online articles
  • Books and articles from the Library
  • Legislation
  • Guidelines and reports
  • Pay surveys

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Featured book

Directors' remuneration handbook
Weight, C. (Bloomsbury, 2014, 785 pages)
This book explains the complexities of directors' remuneration in simple terms, providing examples of best practice and up-to-date market data as well as a source of reference to key legislation.

To borrow this book please contact the Library.

Featured article

Bonus culture under inspection
Finance and Management, February 2014, p.18-21
Charts how businesses in the UK are developing their reward systems, with the increasing popularity of "self-funded" bonuses, taking account of risk and financial targets among other factors.

To request a copy of this article please contact the Library.

Online articles

The library provides access to a range of articles in full text from leading business, finance and management journals. Access to articles is provided subject to suppliers' terms of use.

Articles are available to logged-in ICAEW members, ACA students and other entitled users.

Articles and books in the Library collection

Selected articles

Articles in our print collection include:

Capping salary excess 
Accountancy, October 2013. p.65
The author analyses the ramifications of the Enterprise and Regulatory Reform Act 2013, which gives shareholders greater influence over executive remuneration in fully-quoted companies. The author argues that investors will begin to expect this degree of input into smaller companies too.

Changing face of LTIPs 
Executive Compensation Review, June 2013. pp.21-23
 LTIPs (long-term incentive plans) are now a firmly established part of executive remuneration, but they are coming under increasing fire. Payouts have remained stubbornly high even at a time of recession and poor corporate performance, and there are concerns that they encourage executives to maximise short-term results at the expense of long-term corporate health. However, there are signs that remuneration committees are beginning to respond to these criticisms. This article looks at some of the latest trends in LTIP design.

To find out how you can borrow books from the Library please see our guide to book loans. You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.

Useful links

Legislation

Directors' pay: revised remuneration reporting regulations 
After consultations during 2013, Parliament approved these final regulations governing directors' remunerations reporting, which came into force on 1 October 2013.

Enterprise and Regulatory Reform Act 
Part 6, section 79, covers payments to directors of quoted companies.

The large and medium-sized companies and groups (accounts and reports) regulations 2008 
The full text of statutory instrument 2008/410 which came into force in April 2008.

Guidelines and reports

2014

Bulletin 4: Recent developments in Company Law, the Listing Rules and auditing standards that affect United Kingdom auditor's reports 
Audit and Assurance Bulletin published by the FRC in April 2014 highlighting changes to auditors' responsibilities. The press notice FRC's Audit and Assurance Bulletin highlights the auditor's responsibilities with respect to the Strategic Report and the Directors' Remuneration Report, issued on 10 April 2014, gives a summary.

2013

Directors' Remuneration Reporting Guidance 
Guidance from the GC100 and Investor Group published on 12 September 2013.

The Directors' remuneration report: A practical guide to the new regulations 
This publication from Deloitte provides the detail, guidance and insights to enable companies to approach the new directors' remuneration reporting requirements. A checklist for the new statutory requirements is also included in the guide.

Executive remuneration: Simple, practical proposals for implementing the new disclosure requirements 
Latest guidance from PwC, Radley Yeldar and CIMA on executive remuneration reporting. Covers how companies can make their disclosures more transparent and accessible to readers, key requirements under the regulations and examples of what some leading companies have reported.

FRC to consult on executive remuneration 
On 2 October 2013 the FRC opened a consultation on whether to amend the UK Corporate Governance Code to address a number of issues relating to executive remuneration. The FRC is now consulting on three specific proposals: clawback arrangements; whether non-executive directors who are also executive directors in other companies should sit on the remuneration committee; and what actions companies might take if they fail to obtain at least a substantial majority in support of a resolution on remuneration.

KPMG's Guide to directors' remuneration
Annual survey published by KPMG which analyses the latest trends in FTSE 350 executive directors' pay. It covers basic pay and incentives, both short- and long-term. The report also looks at the wider factors which impact executive pay and how these have changed over the year.

2012

Directors' remuneration report briefing 
A review published in September 2012 by law firm Freshfields Bruckhaus Deringer, assessing the government's June 2012 proposals for a binding shareholder vote on directors' pay and new pay disclosures.

Executive pay: consultation on revised remuneration reporting regulations 
The consultation paper published by BIS on 27 June 2012, to invite comments on draft regulations for the content of directors' remuneration reports.

Directors' pay: guide to government reforms 
On 20 June 2012 the Business Secretary Vince Cable announced comprehensive reforms of the governance framework for directors' remuneration which aim to "address failures in corporate governance by empowering shareholders to engage effectively with companies on pay." These reforms were introduced through amendments to the Enterprise and Regulatory Reform Bill. On 3 July 2012 BIS published further explanatory notes for proposed amendments on directors' remuneration.

A single figure for remuneration 
Report published by the FRC's Financial Reporting Lab in June 2012 which presents the results of a short-term project undertaken at the request of the BIS to obtain views from companies and the investment community on how a single figure of 'total remuneration' might be measured and presented.

Executive pay: Consultation on enhanced shareholder voting rights 
Consultation paper published by BIS in March 2012 on "measures to give company shareholders greater influence over executive pay, through enhanced voting rights". The paper builds on the evidence received in response to the 2011 discussion paper on executive remuneration. BIS published a summary of responses in June 2012.

2011

Executive remuneration: Discussion paper 
Published in September 2011 by the Department for Business, Innovation and Skills (BIS), this discussion paper aims to "to gather further evidence and stimulate debate" and presents a "variety of measures that could potentially promote a clearer and stronger link between executive remuneration and company performance, and empower shareholders to hold companies to account." BIS published a summary of responses in January 2012.

What are we paying for? Exploring executive pay and performance 
Report published in September 2011 by the High Pay Commission, based on research by Incomes Data Services looking at the link between executive pay and company performance in the FTSE 350.

Pay surveys

2013: A year of restraint for executive pay 
A PWC report based on a short survey of over 40 large companies run at the end of 2012, against the backdrop of the current attention then focusing on executive pay from shareholders, Government, regulators and the media. The results show that base pay and bonuses look set to be more restrained than in previous years.

A chief concern: how CEO pay has changed in the UK’s best known charities over the last five years 
A short nfpSynergy November 2013 report, looking back at CEO pay in 50 top UK charities during 2007-2012. Free download requiring an email address.

Infographics: Chairmen and non-executive directors’ remuneration 
These infographics highlight some of the key findings of the MM&K and Directorbank's 'Life in the Boardroom' survey into Chairmen and Non-Executive Directors' Remuneration.

KPMG's Guide to directors' remuneration 
Annual survey published by KPMG which analyses the latest trends in FTSE 350 executive directors' pay. It covers basic pay and incentives, both short- and long-term. The report also looks at the wider factors which impact executive pay and how these have changed over the year.

PWC Non-executive director fees survey 2013 
Analysis of non-executive fee levels and trends in FTSE 100, FTSE 250 and SMC companies.

The state of pay: one year on from the high pay commission 
This High Pay Centre report published in December 2012 scrutinises CEO rewards, a year on from the High Pay Commission's 'What are we paying for?' report into pay packages for executives at the top of British businesses.

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