Consultation – 2024 Review of the Compliance Framework and Reporting Guidelines

The Commission has initiated a review to ensure the Compliance Framework and Reporting Guidelines are current, relevant and reflect a targeted, risk-based approach to compliance and enforcement. The Commission has released a Consultation Paper for public consultation.

The Compliance Framework and Reporting Guidelines outline the Commission’s approach and expectations in regards to compliance and enforcement, including through requiring the establishment of a compliance process, reporting on material breaches, the undertaking of compliance audits and submission of an annual compliance report and declaration.

To initiate the review, the Commission has published a Consultation Paper which outlines the Commission’s proposed approach, as well as a draft version 2 of the Compliance Framework and Reporting Guidelines and a detailed summary table of the proposed amendments. The Commission invites submissions on the proposed changes from stakeholders by 5pm (ACST) Monday 6 May 2024.

More information about the Commission’s review can be found on the 2024 Review of the Compliance Framework and Reporting Guidelines project page.