Hyperbole, rhetoric don't address compliance costs

FOR IMMEDIATE RELEASE

Hyperbole and rhetoric don't address compliance costs say Chartered Accountants

According to the Institute of Chartered Accountants, unions, business and government need to work together to reduce business compliance costs.

The Institute's director of government relations, David Pickens, said that the issue isn't as simple as a need for more or less regulation.

Pickens said no one in their right mind would moan about – for example – good quality industrial safety rules. But the real problem is the overall poor quality of the rules businesses have to work with.

"The CTU describing the compliance concerns of business as an "annual moan" simply demonstrates the need for a change of attitudes before progress can be made reducing the compliance burden," he said.

"Unnecessary and poor quality regulation makes it harder for business to generate income, create jobs, and provide consumer goods and services at reasonable costs."

"The Institute is concerned that small businesses in particular may be ignorant of, and therefore not complying with, many of the rules and regulations that apply to their businesses. They have simply reached regulation overload."

"Government must be more discerning in the obligations they put on business. And this isn't just about reducing compliance costs. It is also about achieving the government's own regulatory objectives."

"If voted to Select Committee, the Regulatory Responsibility Bill currently before Parliament will give everyone the opportunity to debate these issues. It is important that New Zealand takes the opportunity to move beyond short-term palliative compliance cost reviews and talk fests to find more enduring solutions, solutions the recent compliance cost survey so clearly demonstrates we need."

"The Institute hopes that unions, business groups and others take the opportunity to encourage Parliament to have the debate and fundamentally improve New Zealand's regulatory framework."

ENDS

© Scoop Media