What is regulatory measure?
Regulatory measure means any law, regulation, rule, procedure, decision, policy or administrative action.
What is regulatory effectiveness?
The term ‘regulatory effectiveness’ covers the quality of the work and level of performance of a regulatory body. The discussions were focused on the elements of an effective regulatory body, possible indicators of regulatory effectiveness and its assessment.
Why do countries adopt international financial reporting standards?
Proponents of IFRS argue that the standards reduce information costs to an economy, particularly as capital flows and trade become more globalized: it is cheaper for capital market participants to become familiar with one set of global standards than with several local standards (Leuz, 2003; Barth, 2008).
What are the characteristics of regulation?
Characteristics of good regulation are not limited to legalistic rules and techniques. They also involve things like necessity, effectiveness, efficiency, legal certainty and social justice.
What are regulatory standards?
Regulatory Standards means all laws, rules, regulations and Regulatory Authority advisory opinions or orders applicable to the manufacturing, marketing, sale, reimbursement and/or pricing of any Products. Sample 2.
What are regulatory standards in healthcare?
Regulation plays a major role in the health care industry and health care insurance coverage. The various regulatory bodies protect the public from a number of health risks and provide numerous programs for public health and welfare. Together, these regulatory agencies protect and regulate public health at every level.
What is regulation performance?
A regulatory approach that focuses on desired, measurable outcomes, rather than prescriptive processes, techniques, or procedures. Performance-based regulation leads to defined results without specific direction regarding how those results are to be obtained.
What is the regulatory policy?
Regulatory policy is about achieving government’s objectives through the use of regulations, laws, and other instruments to deliver better economic and social outcomes and thus enhance the life of citizens and business.
What are the main benefits of international harmonization of auditing standards?
The three main advantages of a single set of international accounting standards are (1) an increased comparability between firms, which reduces investor risk and facilitates cross-border financing and investment; (2) a reduction in the cost of preparing consolidated financial statements for multinational firms; and (3) …
What do you mean by International Financial Reporting Standards?
IFRS
International Financial Reporting Standards (IFRS) are a set of accounting rules for the financial statements of public companies that are intended to make them consistent, transparent, and easily comparable around the world.
What is the main purpose of regulation?
Regulation has as main objective the protection of users’ and consumers’ interests by promoting the quality of service provided by operators and ensuring socially acceptable pricing, since water and waste services must have the following characteristics: essentialness, indispensability, universal access, equity.
What is regulation and control?
As nouns the difference between regulation and control is that regulation is (uncountable) the act of regulating or the condition of being regulated while control is (countable|uncountable) influence or authority over.
What is the purpose of harmonization of standards?
Harmonization allows companies to understand the minimum regulatory and customer requirements of international markets. This in turn allows companies to produce goods for those markets. There are a number of public, private, and government-to-government organizations that are involved in harmonization of standards.
What is the importance of harmonization in international trade?
Harmonization of standards, specifications, and regulations is critical to international trade. Harmonization allows companies to understand the minimum regulatory and customer requirements of international markets. This in turn allows companies to produce goods for those markets.
What is standardisation and why is it important?
Standardisation is the process of developing standards which are the result of collaboration between experts from companies, research institutions and public authorities who sit on standards committees. Standardization organizations develop and publish standards on international, European and national level.
Can international standards be harmonised under a mandate?
International standards adopted by an international standardisation organisation can also be harmonised under a mandate. The references of harmonised standards must be published in the Official Journal of the European Union (OJEU). Following website provides access to the latest lists of these references.