Clifford Chance

Australian Productivity Commission's Regulator Audit Framework: Will it produce real change at the ACCC?

7 April 2014

If adopted by the Australian Federal Government, the Office of Best Practice Regulation (OBPR) (or other appropriate body) will use a framework released by the Productivity Commission on 19 March 2014 (http://www.pc.gov.au/research/submission/regulator
-audit-framework) to audit the performance of Commonwealth regulators, including the Australian Competition & Consumer Commission (ACCC).

The intended purpose of such audits is to assess the performance of regulators by reference to the compliance costs that their actions impose on business and other regulated entities. It is Federal Government policy that each regulator be audited once during each parliamentary term.

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