WELS Compliance Risk Management Guide for Suppliers
Working document
Department of the Environment and Water Resources, March 2007
ISBN 0642 55140 5
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About this guide
The aim of this guide is to assist suppliers to:
- Develop appropriate compliance risk management (CRM) decision making, systems, practices and corporate culture for identifying and managing compliance risks under the WELS Act;
- Join with the WELS Scheme to identify and account for any significant barriers to achieving compliance and the objectives of the Scheme;
- Participate in continual improvement processes for CRM activities in the interests of the WELS Regulator and suppliers;
- Recognise that, while cost efficiency is a legitimate business concern of suppliers, managing CRM merely for least cost and minimum compliance can be a risk-laden approach; and that achieving a defensible balance between cost minimisation and adequate CRM resources is the key to cost and CRM efficiency/effectiveness; and
- Canvass ways to share principles of better CRM.
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