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Ayres And Braithwaite Compliance Pyramid
Regulatory risk differentiation is the process used by a regulatory authority (the regulator - most often a tax administration) to systemically treat entities differently based on the regulator's assessment of the risks of the entity's non-compliance. Regulators can include law enforcement agencies. Entities refers to those under the authority/control of the regulator – in most cases ranging from individuals to companies (legal entities) to multinationals operating within the regulator's jurisdiction. The risk differentiation process requires the regulator to directly link a robust risk assessment to different regulatory responses (e.g. financial penalties, criminal imprisonment). Regulatory risk differentiation is also referred to as the Compliance Model in some regulatory agencies. See for example the Australian Prudential Regulatory Authority risk differentiation approach known as: PAIRS / SOARS. PAIRS is the Probability And Impact Rating System, while SOARS is the Supervisory ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regulatory Authority
A regulatory agency (regulatory body, regulator) or independent agency (independent regulatory agency) is a government authority that is responsible for exercising autonomous dominion over some area of human activity in a licensing and regulating capacity. These are customarily set up to strengthen safety and standards, and/or to protect consumers in markets where there is a lack of effective competition. Examples of regulatory agencies that enforce standards include the Food and Drug Administration in the United States and the Medicines and Healthcare products Regulatory Agency in the United Kingdom; and, in the case of economic regulation, the Office of Gas and Electricity Markets and the Telecom Regulatory Authority in India. Legislative basis Regulatory agencies are generally a part of the executive branch of the government and have statutory authority to perform their functions with oversight from the legislative branch. Their actions are often open to legal review. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regulatory Compliance Risk Bow-Tie
Regulation is the management of complex systems according to a set of rules and trends. In systems theory, these types of rules exist in various fields of biology and society, but the term has slightly different meanings according to context. For example: * in biology, gene regulation and metabolic regulation allow living organisms to adapt to their environment and maintain homeostasis; * in government, typically regulation means stipulations of the delegated legislation which is drafted by subject-matter experts to enforce primary legislation; * in business, industry self-regulation occurs through self-regulatory organizations and trade associations which allow industries to set and enforce rules with less government involvement; and, * in psychology, self-regulation theory is the study of how individuals regulate their thoughts and behaviors to reach goals. Social Regulation in the social, political, psychological, and economic domains can take many forms: legal restrictions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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 the 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, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Better Regulation
The Better Regulation Commission was a non-departmental public body of the British government, independent of any government department but under the oversight of Department for Business, Enterprise and Regulatory Reform. Its role, according to its Terms of Reference was "To advise the Government on action to reduce unnecessary regulatory and administrative burdens, and ensure that regulation and its enforcement are proportionate, accountable, consistent, transparent and targeted". The Commission closed in January 2008 and was replaced by the Better Regulation Executive. Background "Better regulation" had been a theme of government action in the United Kingdom since the establishment of an advisory Better Regulation Task Force in 1997. The task force was replaced by a permanent body, the Better Regulation Commission, on 1 January 2006 and the Government said it was committed to implementing its recommendations. The task force estimated the total cost of regulation to the UK econo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ISO 3100 - Bow Tie Approach
ISO is the most common abbreviation for the International Organization for Standardization. ISO or Iso may also refer to: Business and finance * Iso (supermarket), a chain of Danish supermarkets incorporated into the SuperBest chain in 2007 * Iso Omena ("Big Apple"), a shopping center in Finland * Incentive stock option, a type of employee stock option * Independent Sales Organization, a company that partners with an acquiring bank to provide merchant services * Insurance Services Office, an American insurance underwriter * Intermarket sweep order, a type of limit order on financial markets * Iso (automobile), an Italian car manufacturer Arts and entertainment * Isomorphic Algorithms (ISOs), a fictional race in the digital world of '' Tron: Legacy'' * Iso (comics), a Marvel comics character Music * ''Iso'' (album), an album by Ismaël Lô * Iceland Symphony Orchestra * Indianapolis Symphony Orchestra, Indiana, US * International Symphony Orchestra, of Sarnia, Ontario and Port Hur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ISO 31000
ISO 31000 is a family of standards relating to risk management codified by the International Organization for Standardization. ISO 31000:2018 provides principles and generic guidelines on managing risks that could be negative faced by organizations as these could have consequence in terms of economic performance and professional reputation. ISO 31000 seeks to provide a universally recognized paradigm for practitioners and companies employing risk management processes to replace the myriad of existing standards, methodologies and paradigms that differed between industries, subject matters and regions. For this purpose, the recommendations provided in ISO 31000 can be customized to any organization and its contex As of 2020, ISO/TC 262, the committee responsible for this family of standards, has published five standards, while four additional standards are in the proposal/development stages.Published standards * ISO 31000:2018 - Risk management - Guidelines * ISO/TR 31004:2013 - Ri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quadrant Framework
Quadrant may refer to: Companies * Quadrant Cycle Company, 1899 manufacturers in Britain of the Quadrant motorcar * Quadrant (motorcycles), one of the earliest British motorcycle manufacturers, established in Birmingham in 1901 * Quadrant Private Equity, an Australian investment firm * Quadrant Records, an independent record label * Quadrant Televentures Ltd., a subsidiary of Videocon Telecom, India Geography * A quadrant or section in a city street nomenclature system, see Address (geography)#Quadrants * Quadrants of Washington, D.C. Mathematics * Quadrant (circle), a circular sector equal to one quarter of a circle, or half a semicircle * Quadrant (plane geometry), a sector of a two-dimensional Cartesian coordinate system * Quadrant (solid geometry) Military * , a Second World War British/Australian warship * First Quebec Conference, 1943 (codenamed "QUADRANT") Science and technology * Galactic quadrant, one out of four circular sectors in the division of the Milky Way ga ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Matrix With Simple Quadrant Strategy
In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. The international standard definition of risk for common understanding in different applications is “effect of uncertainty on objectives”. The understanding of risk, the methods of assessment and management, the descriptions of risk and even the definitions of risk differ in different practice areas (business, economics, environment, finance, information technology, health, insurance, safety, security etc). This article provides links to more detailed articles on these areas. The international standard for risk management, ISO 31000, provides principles and generic guidelines on managing risks faced by organizations. Definitions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Matrix - Pareto Distribution
In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. The international standard definition of risk for common understanding in different applications is “effect of uncertainty on objectives”. The understanding of risk, the methods of assessment and management, the descriptions of risk and even the definitions of risk differ in different practice areas (business, economics, environment, finance, information technology, health, insurance, safety, security etc). This article provides links to more detailed articles on these areas. The international standard for risk management, ISO 31000, provides principles and generic guidelines on managing risks faced by organizations. Definitions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Matrix
A risk matrix is a matrix that is used during risk assessment to define the level of risk by considering the category of probability or likelihood against the category of consequence severity. This is a simple mechanism to increase visibility of risks and assist management decision making. Definitions Risk is the lack of certainty about the outcome of making a particular choice. Statistically, the level of downside risk can be calculated as the product of the probability that harm occurs (e.g., that an accident happens) multiplied by the severity of that harm (i.e., the average amount of harm or more conservatively the maximum credible amount of harm). In practice, the risk matrix is a useful approach where either the probability or the harm severity cannot be estimated with accuracy and precision. Although standard risk matrices exist in certain contexts (e.g. US DoD, NASA, ISO),International Organization for Standardization, Space Systems Risk Management, ISO 17666, individual pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scatterplot
A scatter plot (also called a scatterplot, scatter graph, scatter chart, scattergram, or scatter diagram) is a type of plot or mathematical diagram using Cartesian coordinates to display values for typically two variables for a set of data. If the points are coded (color/shape/size), one additional variable can be displayed. The data are displayed as a collection of points, each having the value of one variable determining the position on the horizontal axis and the value of the other variable determining the position on the vertical axis. Overview A scatter plot can be used either when one continuous variable is under the control of the experimenter and the other depends on it or when both continuous variables are independent. If a parameter exists that is systematically incremented and/or decremented by the other, it is called the ''control parameter'' or independent variable and is customarily plotted along the horizontal axis. The measured or dependent variable is cu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hampton Report
Reducing administrative burdens – effective inspection and enforcement (the Hampton Report) is a March 2005 UK publication produced under businessman Philip Hampton. The UK Statutory Code of Practice for Regulators is based on its recommendations with the purpose to promote efficient and effective approaches to regulatory inspection and enforcement. In the 2004 Budget, Hampton was asked to lead a review of regulatory inspection and enforcement. This review produced the ''Hampton Report''. This report, together with the later ''Macrory Review'' "Regulatory Justice – making sanctions effective" led to the UK Regulatory Enforcement and Sanctions Act 2008. One result was that the Ayres and Braithwaite Compliance Pyramid was effectively codified into UK law. The Hampton Report also recommended an enhanced role for the Office of Fair Trading (OFT). The OFT were to set national priorities and coordinate performance management of local authority trading standards services. Local Bett ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
