The Regulator Performance Framework(the Framework), released in 2014, forms part of the Government's red tape reduction strategy. The Government recognises the important role that regulators play in managing risk and protecting the interests of the community. The Framework reflects the Government's commitment to reducing the burden on external parties by eliminating any unnecessary and inefficient administration of regulation.
The Framework enables regulators to report objectively on the outcomes of their efforts to administer regulation fairly, effectively and efficiently, to identify opportunities for improvement, and to better target resources for greater impact. Under the Framework, regulatory agencies in the Treasury portfolio (including the ABS) are obliged to conduct an annual self-assessment against 6 Key Performance Indicators and seek independent validation of the results from a set of Ministerially approved external stakeholders.
The 2019-20 ABS Regulator Performance Framework Assessment Report represents the ABS' fifth self-assessment against the Framework: