The Financial Reporting Council's Financial Reporting Lab has undertaken a second project on pay - this time exploring the views of investors and companies on two new aspects of the draft reporting regulations on remuneration.

The project - requested by the Department of Business Innovation and Skills (BIS) - looks at the aspects remuneration with scenario charts demonstrating how directors' pay varies with performance, and a chart comparing CEO pay based on the single figure for remuneration, with company performance, measured using Total Shareholder Return (TSR).

The lab also sought views on certain aspects of its initial report, 'A single figure for remuneration'.

Director of Lab, Sue Harding, said that this second project has again achieved significant agreement among participating members of the investor and corporate communities.

'Participants favour a simplified version of the scenario charts proposed by BIS. They also conclude that, rather than replacing the current five year TSR chart, this should be retained and be supplemented with a simple table setting out historic levels of CEO pay together with information on the level of performance-related elements of pay.

'We hope that BIS finds the conclusions in this report helpful in their decisions on remuneration reporting requirements,' said Harding.