{
  "docId": "019dd923-622c-750b-8b99-4706c419301b",
  "docSlug": "a2803989ab19",
  "documentTitle": "Broadridge Financial Solutions, Inc. (BR)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-09-28 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 63,
  "pageCount": 81,
  "prevPage": 62,
  "nextPage": 64,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 25,
  "notes": "The slide uses a red arrow to connect the definition of 'Audit-Related Fees' to the 2021 data point, emphasizing the spike.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "data_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-4706c419301b/63",
  "deckHref": "/decks/019dd923-622c-750b-8b99-4706c419301b",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-4706c419301b.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-4706c419301b#slide-63",
  "components": [
    {
      "bbox": {
        "h": 0.06,
        "w": 0.9,
        "x": 0.08,
        "y": 0.175
      },
      "kind": "callout",
      "text": "Spruce Point observes a sharp recent increase in fees spent by BR for audit-related services tied to internal controls.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e82f2578-8444-4dc8-b340-2dc5bccf44b3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Audit-Related Fees: 33.3%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-2040-777a-854e-e48c01826653",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.08,
        "y": 0.275
      },
      "kind": "paragraph",
      "text": "Audit-Related Fees include professional services performed by the Company for its clients' benefit on the design and/or effectiveness of the Company's internal controls relative to the services the Company performs for its clients, and reviews of compliance with performance criteria established by the Company for the services the Company performs for its clients.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c6cd54e1-2122-4ff8-a242-362fa9135da3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "\"Audit-Related Fees include professional services performed by the Company for its clients' benefit on the design and/or effectiveness of the Company's internal controls relative to the services the Company performs for its clients, and reviews of compliance with performance criteria established by the Company for the services the Company performs for its clients.\" — Proxy Statement Language",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-2040-777a-854e-e2dc4e7d783c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.2,
        "x": 0.065,
        "y": 0.925
      },
      "kind": "source-note",
      "text": "Source: BR Proxy Statements",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3c9d6042-49d6-4516-affa-636ff2fa529f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.46,
        "w": 0.925,
        "x": 0.065,
        "y": 0.435
      },
      "kind": "table",
      "text": "Audit fees table from 2018-2022",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "08646da1-ed7a-4f48-a6b4-2fefd6cce621",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.65,
        "x": 0.31,
        "y": 0.025
      },
      "kind": "title",
      "text": "Spike In Audit-Related Fees Around Internal Control Evaluation",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e6ff81f4-1e41-421f-b9a6-83ae30613197",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "9090a92f-02ec-4f4f-b3d5-b4f8a671327c",
      "evidence": "Highlighting a specific financial metric (audit-related fees) to imply potential internal control failures or accounting irregularities.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}