The Australian Government's Regulator Performance Framework (the Framework) applies to all Commonwealth regulators that administer, monitor or enforce regulation. The Framework articulates the Government’s overarching expectations of regulator performance and comprises 6 outcomes based key performance indicators (KPIs) as listed below.
- Regulators do not unnecessarily impede the efficient operation of 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.
These KPIs are supported by measures of good regulatory performance to assist regulators self-assess their achievement of the KPIs. This self-assessment is then considered by an external performance validation panel before it is provided to the Minister.