regulatory impact assessment (ria) guidelines - It's More Fun in the ...

PHILIPPINES - REGULATORY IMPACT ASSESSMENT (RIA) GUIDELINES
DRAFT – FOR DISCUSSION AND FINALISATION
5.5 Compliance Awareness
Compliance with regulations can be supported by avoiding poorly drafted or complex regulations and inconsistent interpretation of regulations
by regulators and providing access to those affected by regulations (business, community and government) to supporting documentation and
tools that provide clear guidance on interpreting and complying with regulatory requirements.
Compliance is supported where:
• Regulations are written in a clear way easily understood by people not familiar with the area of regulation
• Information, and education and training related to the regulation is targeted at those required to comply and enforce the regulation
• Regulators provide tools that make it easier to comply (eg., we based tools, electronic forms)
• Regulators establish appropriate service standards and benchmarks (eg., response time) related to regulatory requirements
• Those required to comply should be allowed sufficient time to prepare for the new regulatory requirements prior to commencement.
The objective in designing a compliance awareness and support strategy is to achieve the greatest degree of compliance at the lowest possible
cost to the regulator and regulated parties.
Version 4.0 23 July 2012 DRAFT Page 24/24