The Australian government has established the Regulator Performance Framework (RPF) to assess regulators’ performance when interacting with business, the community and individuals.
The RPF seeks to:
- improve the way regulators operate
- reduce the costs incurred by business, individuals and the community from the administration of regulation
- increase the public accountability and transparency of regulators.
Under the RPF all regulators must self-assess their performance every 12 months.
AUSTRAC’s 2015-16 self-assessment
AUSTRAC’s first RPF assessment period was from 1 July 2015 to 30 June 2016.
During the assessment period AUSTRAC:
- collected data and evidence to inform our assessment against the RPF
- completed a self-assessment report
- sought and considered external feedback from our stakeholders.