Risk Based Regulation

Thursday, 14 July 2011 14:44

We are refining and strengthening our risk-based approach to regulation. Risk-based regulation is a common approach used by regulators to prioritise their regulatory activity and allocation of resources. It is used to target those areas that present the greatest risk to the achievement of a regulator’s statutory objectives. It also helps a regulator to demonstrate it meets the five principles of good regulation by facilitating proportionate and targeted interventions in the regulated systems.

We have previously used a risk-based approach but we are developing a more systematic model. We have also been considering how we identify and evaluate risk in relation to those statutory objectives that were not stated aims of Ofqual’s predecessor bodies, such as securing efficiency in the provision of regulated qualifications.

As part of the process of developing our approach to risk-based regulation we will provide awarding organisations with the opportunity to comment on the clarity and appropriateness of the factors we plan to take into account, how these factors would be assessed by the regulator and why particular regulatory activity could be initiated as a result. We will publish further information later this year. This will include clarification of the approach we will take to gain assurance that awarding organisations are complying with their recognition conditions and to intervene where necessary.

Last Updated on Sunday, 17 July 2011 15:02 Tags: Ofqual, education, examination regulation, qualifications, assessments