Regulator Performance Framework
The Regulator Performance Framework measures the performance of regulators, such as the Safety, Rehabilitation and Compensation Commission (SRCC).
It is designed to improve the performance of regulators by supporting them to adopt consistent, risk-based approaches to managing regulation.
About the Framework
The Regulator Performance Framework is part of an Australian Government initiative to improve the quality of its regulation, including minimising the burden of regulation on businesses, community organisations and people.
The Framework encourages regulators to minimise their impact on those they regulate while still delivering the regulatory functions they are required to perform.
It also aims to affect positive and lasting change within regulators to ensure improvements and efficiencies are ongoing.
The Regulator Performance Framework provides regulators with six key performance indicators (KPIs):
- Regulators do not unnecessarily impede the efficient operation of the regulated entities.
- Communication with regulated entities is clear, targeted and effective.
- Actions undertaken by regulators are proportionate to the regulatory risk being managed.
- Compliance and monitoring approaches are streamlined and coordinated.
- Regulators are open and transparent in their dealings with regulated entities.
- Regulators actively contribute to the continuous improvement of regulatory frameworks.
Other features of the Framework include:
- measures of good performance which can be used by regulators to assess their achievements against the key performance indicators
- a process for annual self-assessment
- a process for targeted external review every three years, for a selected set of regulators
- a process for annual external review for a small number of major regulators.
SRCC’s Regulator Performance Framework
The SRCC, as the regulator of self-insured licensees under the Safety, Rehabilitation and Compensation Act 1988 (SRC Act), is required to implement the Government’s Regulator Performance Framework.
The SRCC implemented the Framework in 2015 and conducted the first self-assessment in 2015-16.
Implementing and reporting against the Framework helps us identify areas for improvement, direct resources for greater impact, and identify opportunities to reduce compliance costs.
- Regulator Performance Framework
- Australian Government Regulation
- Australian Government Regulation guide.