Resource Management Guide – Regulator Performance (RMG 128) outlines performance expectations for Commonwealth Regulators through three principles of best practice, which are:
- Continuous improvement and building trust
- Risk based and data driven
- Collaboration and engagement.
The guidance assists Commonwealth regulators to report on their performance against these expectations. Other elements of the guidance include:
- setting performance objectives through Ministerial Statements of Expectations
- reducing duplication and increasing accountability and transparency by moving regulator performance reporting under the Public Governance, Performance and Accountability Act 2013.