In 2005 the government appointed a Taskforce to identify ways to alleviate the compliance burden on business from government regulation.  
 
Following the Taskforce Report in April 2006, the government promised to tackle the issue of reducing business red tape. It recognised that failing to do so would negatively impact on the Australian economy.  
 
Final report 
 
Links to government’s response to the Taskforce report:  
Taskforce report 
Media release 
 
The government released a consultation paper on corporate and financial regulation seeking comment on a range of proposed technical changes to reduce the regulatory burden.  
 
This paper canvassed a wide range of regulatory issues in corporations law and financial services that had been raised with the government by numerous parties, including the Institute: changes to the Financial Services Reform regime, auditor independence, company reporting obligations and corporate governance issues.  
 
Consultation paper