Regulation Impact Statement Updates

Official website for publishing regulatory impact analysis information for regulatory decisions announced by the Australian Government, COAG and COAG Councils.

Regulation and Risk

14th October 2010

How well do organisations manage risk and what role does risk play in the regulation assessment process? Addressing the first of these questions, the International Risk Governance Council recently released a report titled Risk Governance Deficits – PDF version [ PDF Icon 1.55 mb ] .  The 22 ‘risk deficits’ identified are broadly split into two clusters: those relating to the failure to identify risk and those relating to the failure to adequately manage risks once identified.

 Identification of risk and uncertainty is a key part of a Regulation Impact Statement (RIS) and the OBPR has recently reworked the section of the Best Practice Regulation Handbook dealing with risk and uncertainty to expand on these key themes. You can read this in Appendix F of the new Handbook. The OBPR is also starting some further research on risk and its links with regulation policy.

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