The ASA is committed to delivering high standards in its work, to continuous improvement in its approach to regulation, to listening to others and to challenging itself to evolve so it retains the confidence of those we regulate. That’s why we commissioned this independent audit.
Dame Janet spent almost six months thoroughly investigating the ASA’s performance against five of the key areas set out in our Commitment to Good Regulation. Her audit has involved a detailed review of how we are delivering against it, looking at our processes, policies, ways of working and talking to people at all levels in the organisation. Dame Janet also met a wide range of industry stakeholders and listened to their views.
Following her thorough review, we are pleased that her report has concluded that the ASA is meeting the regulatory commitments we have set out, and has confirmed that those commitments in the main either meet or exceed the requirements of the statutory Regulators' Code, on which they are modelled.
We also welcome Dame Janet’s findings that confirm that the ASA is a “successful regulator” which is “fit for purpose”, is “a modern online regulator with efficient systems” and has an Independent Review process that “works efficiently”. We are pleased to note that she finds that the ASA has the support of the industry it regulates but has in place appropriate systems and protocols that demonstrate independence from that same industry.
As a confident regulator that is unafraid to seek and act on feedback, we recognise we can always improve. We therefore also welcome the recommendations that Dame Janet has made. Most of these recommendations respond to issues concerning details of process, enhanced information sharing and further engagement with industry at the business compliance representative level. We already have plans in place to deliver a number of ideas that Dame Janet has made; some of them very soon. We will now carefully consider all of Dame Janet’s recommendations and, where appropriate, we will respond to them over the next few months and beyond.
We will publish our final response to the audit and its recommendations in the autumn, explaining how we have responded, or propose to respond, to each recommendation made.
To read Dame Janet's full report, please click here.
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