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Regulatory Compliance
In general, compliance means conforming to a rule, such as a specification, policy, standard or law. Compliance has traditionally been explained by reference to deterrence theory, according to which punishing a behavior will decrease the violations both by the wrongdoer (specific deterrence) and by others (general deterrence). This view has been supported by economic theory, which has framed punishment in terms of costs and has explained compliance in terms of a cost-benefit equilibrium (Becker 1968). However, psychological research on motivation provides an alternative view: granting rewards (Deci, Koestner and Ryan, 1999) or imposing fines (Gneezy Rustichini 2000) for a certain behavior is a form of extrinsic motivation that weakens intrinsic motivation and ultimately undermines compliance. Regulatory compliance describes the goal that organizations aspire to achieve in their efforts to ensure that they are aware of and take steps to comply with relevant laws, policies, an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Policy
Policy is a deliberate system of guidelines to guide decisions and achieve rational outcomes. A policy is a statement of intent and is implemented as a procedure or protocol. Policies are generally adopted by a governance body within an organization. Policies can assist in both ''subjective'' and ''objective'' decision making. Policies used in subjective decision-making usually assist senior management with decisions that must be based on the relative merits of a number of factors, and as a result, are often hard to test objectively, e.g. work–life balance policy. Moreover, governments and other institutions have policies in the form of laws, regulations, procedures, administrative actions, incentives and voluntary practices. Frequently, resource allocations mirror policy decisions. Policies intended to assist in objective decision-making are usually operational in nature and can be objectively tested, e.g. a password policy. The term may apply to government, public se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Organization For Standardization
The International Organization for Standardization (ISO ; ; ) is an independent, non-governmental, international standard development organization composed of representatives from the national standards organizations of member countries. Membership requirements are given in Article 3 of the ISO Statutes. ISO was founded on 23 February 1947, and () it has published over 25,000 international standards covering almost all aspects of technology and manufacturing. It has over 800 technical committees (TCs) and subcommittees (SCs) to take care of standards development. The organization develops and publishes international standards in technical and nontechnical fields, including everything from manufactured products and technology to food safety, transport, IT, agriculture, and healthcare. More specialized topics like electrical and electronic engineering are instead handled by the International Electrotechnical Commission.Editors of Encyclopedia Britannica. 3 June 2021.Inte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Therapeutic Goods Administration
The Therapeutic Goods Administration (TGA) is the medicine and therapeutic regulatory agency of the Australian Government. As part of the Department of Health, Disability and Ageing, the TGA regulates the safety, quality, efficacy and advertising in Australia of therapeutic goods (which comprise medicines, medical devices, biologicals and certain other therapeutic goods). Therapeutic goods include goods that are represented to have a therapeutic effect, are included in a class of goods the sole or principal use of which is (or ordinarily is) a therapeutic use, or are otherwise determined to be a therapeutic good through a legislative instrument under the ''Therapeutic Goods Act 1989.'' Goods that are therapeutic goods must be entered on the Australian Register of Therapeutic Goods (ARTG), or otherwise be the subject of an exemption, approval or authority by the TGA under the ''Therapeutic Goods Act 1989'', ''Therapeutic Goods Regulations 1990'' or ''Therapeutic Goods (Medical Dev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clean Energy Regulator
The Clean Energy Regulator (CER) is an Australian independent statutory authority responsible for implementing legislation to reduce carbon emissions and increase the use of clean energy. It was established on 2 April 2012 through the ''Clean Energy Regulator Act 2011'' and is part of the Climate Change, Energy, the Environment and Water portfolio. It is headquartered in Canberra. The CER is responsible for administering schemes to report on and manage greenhouse gas emissions, including monitoring and enforcing compliance. These include Australia's carbon offsets and credits schemes. In the 2020s, the body faced allegations that its carbon offsets were of poor integrity, and that it had not addressed governance problems such as conflicts of interest. Schemes The Clean Energy Regulator administers schemes legislated by the Australian Government for measuring, managing, reducing or offsetting Australia's carbon emissions. These are: * The National Greenhouse and Energy Re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Communications & Media Authority
The Australian Communications and Media Authority (ACMA) is an Australian government statutory authority within the Communications portfolio. ACMA was formed on 1 July 2005 with the merger of the Australian Broadcasting Authority and the Australian Communications Authority. ACMA is responsible for collecting broadcasting, radiocommunication and telecommunication taxes, and regulating Australian media. It does this through various legislation, regulations, standards and codes of practice. ACMA is a converged regulator, created to oversee the convergence of telecommunications, broadcasting, radio communications and the internet. Organization ACMA is an independent government agency managed by an executive team comprising the Chair (who is also the Agency Head), Deputy Chair (who is also the chief executive officer). ACMA collects revenue on behalf of the Australian Government through broadcasting, radiocommunications and telecommunications taxes, charges and license fees. It al ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Competition & Consumer Commission
The Australian Competition and Consumer Commission (ACCC) is the chief competition regulator of the Government of Australia, located within the Department of the Treasury. It was established in 1995 with the amalgamation of the Australian Trade Practices Commission and the Prices Surveillance Authority to administer the '' Trade Practices Act 1974'', which was replaced by the ''Competition and Consumer Act 2010'' on 1 January 2011. The ACCC's mandate is to protect consumer rights and business rights and obligations, to perform industry regulation and price monitoring, and to prevent illegal anti-competitive behaviour. Historical origins The ACCC's deeper origins are found in the Restrictive Trade Practices Act of Sir Garfield Barwick, Attorney-General in the Liberal Government of Sir Robert Menzies in 1965.Hocking, Jenny, ''Lionel Murphy: a political biography'', Cambridge University Press, Cambridge, UK, 2000 . p.204 Opponents derided Barwick's Trade Practices Act 1965 as " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Securities & Investments Commission
The Australian Securities and Investments Commission (ASIC) is an independent commission of the Australian Government tasked as the national corporate regulator. ASIC's role is to regulate company and financial services and enforce laws to protect Australian consumers, investors and creditors. ASIC, which reports to the treasurer, was established on 1 July 1998 following recommendations from the Wallis Inquiry. Areas of responsibility ASIC's authority and scope are determined by the ''Australian Securities and Investments Commission Act 2001''. ASIC's areas of responsibility include: *corporate governance *financial services *securities and derivatives *insurance *consumer protection *financial literacy ASIC's consumer websitwww.moneysmart.gov.auwas launched on 15 March 2011. MoneySmart replaced ASIC's two previous consumer websites, FIDO and Understanding Money. MoneySmart aims to help people make good financial decisions by providing free, independent and unbiased inform ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) is a statutory authority of the Australian Government and the prudential regulator of the Australian financial services industry. APRA was established on 1 July 1998 in response to the recommendations of the Wallis Inquiry. APRA's authority and scope is determined pursuant to the . Regulatory scope APRA was established on 1 July 1998. It oversees banks, credit unions, building societies, friendly societies, general insurance, health insurance, reinsurance, and life insurance companies, and most members of the superannuation industry. It ensures that these institutions keep their financial promises; that is, that they will remain financially sound and able to meet their obligations to depositors, fund members and policy holders. APRA currently supervises institutions holding A$8.6 trillion in assets for Australian depositors, policyholders and superannuation fund members. APRA is largely funded by levies on the financial in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Bank Of Australia
The Reserve Bank of Australia (RBA) is Australia's central bank and banknote issuing authority. It has had this role since 14 January 1960, when the ''Reserve Bank Act 1959'' removed the central banking functions from the Commonwealth Bank. The bank's main policy role is to control inflation levels within a target range of 2–3%, by controlling the unemployment rate according to the 'non-accelerating inflation rate of unemployment' (NAIRU) by controlling the official cash rate. The NAIRU was implemented in most western nations after 1975, and has been maintained at a target of 5–6% unemployment. The average unemployment rate in Australia between the end of the Second World War and the implementation of the NAIRU was consistently between 1 and 2%. Since the implementation of the NAIRU, the average unemployment rate in Australia has been close to 6%. The RBA also provides services to the Government of Australia and services to other central banks and official institutions. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Superannuation
A pension (; ) is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work. A pension may be either a "Defined benefit pension plan, defined benefit plan", where defined periodic payments are made in retirement and the sponsor of the scheme (e.g. the employer) must make further payments into the fund if necessary to support these defined retirement payments, or a "defined contribution plan", under which defined amounts are paid in during working life, and the retirement payments are whatever can be afforded from the fund. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. The terms "Retirement plans in the United States, retirement plan" and "Superannuation in Australia, superann ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Regulation In Australia
Financial regulation in Australia is extensive and detailed. History In 1984 the Government of Australia established the Financial System Inquiry following a period of financial deregulation that started in the early 1970s. In 1997, leading business figure Stan Wallis produced a report of his inquiry into Australia's financial system, entitled the ''Final Report of the Financial System Inquiry'' and commonly referred to as "the Wallis report." Wallis recommended that the best structure for Australia at that time would involve two regulators: one responsible for prudential regulation of any entity that needed to be prudentially regulated; and one responsible for market and disclosure regulation of any financial products being offered to Australian consumers. Regulators Financial regulation in Australia is split mainly between the Australian Securities & Investments Commission (ASIC) and the Australian Prudential Regulatory Authority (APRA). The Australian Securities Exchange ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Society Of Mechanical Engineers
The American Society of Mechanical Engineers (ASME) is an American professional association that, in its own words, "promotes the art, science, and practice of multidisciplinary engineering and allied sciences around the globe" via "continuing education, training and professional development, codes and technical standard, standards, research, conferences and publications, government relations, and other forms of outreach." ASME is thus an engineering society, a standards organization, a research and development organization, an advocacy organization, a provider of training and education, and a nonprofit organization. Founded as an engineering society focused on mechanical engineering in North America, ASME is today multidisciplinary and global. ASME has over 85,000 members in more than 135 countries worldwide. ASME was founded in 1880 by Alexander Lyman Holley, Henry Rossiter Worthington, John Edison Sweet and Matthias N. Forney in response to numerous steam boiler pressure vessel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
