Regulator Performance Framework
The Australian Government released the Regulator Performance Framework (the Framework) as part of 2014 Spring Repeal Day on 22 October 2014. The Framework is an important part of the Government’s commitment to reducing the cost of unnecessary or inefficient regulation imposed on individuals, business and community organisations by at least $1 billion a year.
The Framework encourages regulators to undertake functions and achieve objectives with the minimum impact on the regulated community by measuring and publicly reporting performance. Details of the Framework are available on the Government’s Cutting Red Tape website.
From 1 July 2015, all Commonwealth regulators that administer, monitor or enforce regulation were required to implement the Framework. In accordance with the requirements within the Framework, the Office of the Federal Safety Commissioner developed the Key Performance Indicators and performance metrics (below) that are used to assess our performance and were agreed to by the former Minister for Employment, Senator the Hon Michaelia Cash. The key performance indicators are outcomes based and include reducing regulatory burden, communications, risk-based and proportionate approaches, efficient and coordinated monitoring, transparency, and continuous improvement.
Measuring and publicly reporting performance aims to give business, the community and indivuduals confidence that regulators effectively and flexibly manage risk.
- OFSC Regulator Performance Framework Measures (PDF 164KB)
- OFSC Regulator Performance Framework Measures (DOCX 41KB)
Annual Performance Report