- Industry regulatory frameworks
- Legislative compliance frameworks
- Performance indicators
- Regulatory accounting
Non-compliance with regulations can result in fines, penalties, Directors held personally liable and prosecuted for criminal acts and Councillors and Executives terminated. Furthermore, the damage to reputation can seriously impact the sustainability of an organisation.
Legislative Compliance Frameworks
JNW has aided numerous organisations structure its legislative compliance framework to manage its risks. This has included:
- Policies and procedures
- Identifying legislation, regulations and accreditations requirements
- Risk assessment process to determine what regulations have the biggest impact/risk
- Documenting how the organisation intends to manage its high risk compliance obligations including roles, responsibilities, delegations and training
- Process for monitoring and keeping up-to-date with any legislative changes
- Compliance assurance
- Compliance and breach reporting.
Partnering with Regulators
JNW has also worked with regulators refining and enhancing their legislative requirements. We currently provide consulting and technical advice on local council and water regulatory frameworks. For example, we have assisted Essential Services Commission with its review of the water industries Regulatory Accounting Statement and the Water Performance Indicator definitions. Our recommendations have streamlined compliance requirements which Industry feedback suggests has saved time and money.
We also aid regulators confirm compliance. For the last three years we have reviewed the 19 water businesses Regulatory Accounting Statements for compliance against the Code.
This regulatory insight enables JNW to provide strategic direction for compliance with legislation and government policy and help organisations defend against compliance breaches.