Regulating Efficiency
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In many jurisdictions, the entities responsible for delivering certain public services (delivered by either the public or the private sector) are distinct from the entities responsible for regulating these services. In some cases, the responsibilities of the Regulator include ensuring that public services are delivered efficiently. This regulatory function, like any other, can be audited. However, few audits of this type have been completed in the last five years. |
Audits of the regulation of efficiency can focus on:
- Whether there are strong incentives on the regulated entities to improve their efficiency;
- Whether the Regulator has access to sufficient information (including unit costs) to be able to assess the efficiency of regulated entities;
- Comparisons of regulated entities against similar entities in the private sector or in other jurisdictions; and
- The reporting, by Regulators, of performance information on the regulated entities.
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