Regulation

Managing Regulation Changes with a Modelling Approach

Despite being one of the most important areas of doing business, research has shown that more than half of Australian businesses struggle with compliance. However, failure to comply with industry regulations can have serious and dire consequences that result in heavy fines, trading restrictions and sometimes even jail time for directors.

Legislation and regulation is constantly changing and it can be daunting for businesses due to the level of documentation and frantic activity that often surrounds compliance audits. This can make the process be seen as less of an ongoing quality control mechanism and rather, a costly reactive imposition with little benefit.