Sourcing Board Data from a Single Origin

Issue: Compiling data can be challenging

The Head of Remuneration of an ASX 50 organisation questions the need to source a report on Board fees for the Board from the consulting firms.

Even so, the time frames involved and limited in-house resources, has meant compiling this data internally has not been an option.

However, an opportunity has finally arisen. To provide the Chair of the Board with a report which include data and analysis for the Board roles.

Brief: It’s simpler when data is taken from a single source

AscentData Direct is already in use internally and provides an alternative to expensive external reports. The Head of Remuneration can now extract the data, prepare a report, and then provide this to the Chair of the Board for review.

Once it’s pointed out that all this data is sourced and collated from published ASX Annual Reports, the Chair of the Board agrees to Board fees report being produced in-house. They begin to see the advantages of availability, flexibility, and cost savings.

Insight: A Final Cross-Check

At the request of the Remuneration Committee Chair there is one final cross-check. The same report they are compiling internally is ordered from their external consulting firm. It arrives and the two final Reports are compared. It’s clear that both reports contain the same data outputs. In fact, further information can be included at the request of the Committee Chair

Approach: Creating Board Fees reports in-house

The client’s custom AscentData Direct Company List is agreed at the commencement of Subscription and updated annually. The Head of Remuneration can easily create and save multiple Peer Groups for in-house analysis:

  • Comparative remuneration for – Board Fees, Committee Fees, Aggregate Fee Limits, and more, are readily available
  • A report is run – to compile the fee details for every organisation in the Peer Group list
  • The Draft Report – is checked by the Chair of the Remuneration Committee. Their input is very helpful
  • The Final Report – is created in the format agreed and shared with the Chair of the Board

Outcome: The tailored report prove to be well-received

These straightforward, Board Fees report provided a good in-house test case.

  • This test-case has shown these reports can be produced in-house
  • The reports were also easily tailored to the needs of the Remuneration Committee
  • If the Remuneration Committee Chair want to review the source data, it’s also accessible
  • Another in-house consulting capability has been added to the Remuneration Team’s skill set
  • They are well placed for similar projects in the future, for the Board
Case Studies