The Australian Government has developed a framework to measure the performance of regulators. The Regulator Performance Framework (the Framework) comprises six outcomes-based key performance indicators (KPIs) to articulate the Government's overarching expectations of regulator performance:

• 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 in assessing their achievement of the KPIs.

The Framework aims to encourage regulators to undertake their functions with the minimum impact necessary to achieve regulatory objectives and to effect positive ongoing and lasting change within regulators. The Framework will allow regulators to report objectively on the outcomes of their efforts to administer regulation fairly, effectively and efficiently.

The new Framework will apply from 1 July 2015 - with the first assessment period being the 2015-16 financial year.

For more details, go to: http://www.tga.gov.au/publication/tga-key-performance-indicators-and-measures-regulator-performance-framework