Regulatory Impact Assessments (RIA) play an integral role in quality policy decision-making. We help our clients unlock a full understanding of the positive and negative impacts of a regulatory action under consideration.
What is a Regulatory Impact Assessment?
Regulatory Impact Assessments (RIA) are designed to investigate the impact of a certain regulation on the community and discover whether the benefits outweigh the costs. This analysis helps State and Federal Governments develop efficient and effective regulations that achieve the desired policy outcome and meet a clear need in the community.
RIA contributes to quality policy-making decisions in two ways: through precise calculations, data and analysis, and the act of questioning, understanding and exploring impacts and assumptions.
Why Are Regulatory Impact Assessments Important?
RIA supports systematic decision-making and a comparative approach to policy decisions.
RIA can help you identify:
- What groups in society would be affected by a proposed change to regulation
- The size of each group
- The nature of the impact on each group
- The magnitude of the impact
- The overall net impact of all of the social costs and benefits of the proposed regulation
Regulatory Impact Assessments expertise
As expert consultants in regulatory and economic analysis, policy, strategy and cost-benefit analysis, we offer expert guidance to help you navigate the Regulatory Impact Assessment process.
By providing our consultancy services to private and public organisations, we can:
- Quantify the financial and social costs and benefits of a regulatory impact
- Help clients concisely articulate the objectives and implications of a regulatory action
- Advise clients on the extent of the Regulatory Impact Assessments they need to follow to satisfy government requirements
- Walk clients through the approval requirements
- Coordinate stakeholder consultations on a client’s behalf
- Facilitate the process beyond the submission of the RIA