Pay reporting may boost advisory fees

Shareholders will be given more power to veto executives' pay under draft company reporting regulations that could increase business for accountants.

The change to remuneration reporting follows concerns that company executives are getting big pay rises for mediocre performance. Last year shareholder rebellions over executive pay at companies including Aviva and William Hill brought out headlines about the “shareholder spring”.

The draft regulations, which are due to start on 1 October, will require remuneration reports in listed companies' annual reports to include...

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