Australasian Compliance Institute and University of Technology, Sydney Launch Landmark Study into Implementation of Regulations

SYDNEY, Aust. June 9, 2009 – The University of Technology, Sydney, in conjunction with the Australasian Compliance Institute (ACI), has launched a landmark research project to provide insights to industry and regulators about the implementation of regulations.

The study, which is also supported by the Safety Institute of Australia (SIA), is the first of its type in Australia as it investigates the relative importance of influencing factors. It will poll ACI and SIA members in sectors including finance, insurance, mining, manufacturing, health, retail, government and legal, as well as regulators themselves, providing a unique internal and external view. Specifically, it will focus on the factors which motivate organisations to go over and above the minimum requirements of the law.

Dr Katarina Hackman, Adjunct Professor in the Faculty of Business at the University of Technology, Sydney, designed the research. She will run it annually to track regulatory regimes in a changing economy and to identify how to better implement regulations. Dr Hackman said the study was particularly important when considering the current economic challenges.

“The economic crisis has brought debate around regulation to the fore and globally, people are questioning the types of regulations in place and how they have been implemented. This survey will reveal critical information that could improve how regulations work through organisations for the benefit of the community,” Dr Hackman said.

   Australasian Compliance Institute CEO Martin Tolar said the study was timely because of debate about the extent of regulation.

“In the current financial crisis, we should be focusing on the effective implementation of regulatory frameworks, rather than on increased regulation. Organisations must go above the letter of the law and beyond the minimum requirements for a sustainable future,” Mr Tolar said.

“This research project will give direction on how to encourage organisations to do more than just ‘comply’ with the rules. Over time, it will provide insights that could help form the regulatory landscape of tomorrow.”

High level results of the research will be available in late June 2009 and the full results will be published in the first Annual Benchmark Report in late July 2009. 

 For further information on the survey or an interview with the ACI or Dr Katarina Hackman, contact:

Kathryn Torpy, Howorth

Phone: +61 2 8281 3237/0431 417 724 or kathrynt@howorth.com.au

About the Australasian Compliance Institute

The Australasian Compliance Institute (ACI) is the peak industry body for compliance in Australia, New Zealand and Asia. Its members are compliance, risk and governance professionals actively engaged in private, professional services and government sectors. The ACI is an incorporated associate under the NSW Associations Incorporation ACI 1984 and the NSW Associations Incorporation Regulation 1999 and is a non-profit membership-based organisation.

www.compliance.org.au