The reform of oversight and supervision system is gathering pace

3 march 2017

Speaking at the 4th National Conference titled “Internal Control and Audit in Russia, Tumun Tsydypov, Head of the Department for Institutional Development of the Analytical Center talked about the ways that the oversight and supervision system is being reformed and about the measures planned for 2017. The main areas of reform were defined by the Russian government in the priority program “Reform of Oversight and Supervision System in 2017-2025”.

According to Mr. Tsydypov, in compliance with the target model, by 2025 state supervision system must meet four basic criteria. It should become smart (relying on analysis, predicting risks and utilizing IT), transparent (so that both business and the public in general would trust them), preventive (through close cooperation with the companies and individuals being supervised) and resources-saving (by being compact and cheap both for the state as well as for the entities under supervision).

All state regulation decisions must be based on risk assessment. At the same time, the efficiency and effectiveness of oversight and supervision bodies must be assessed using performance indicators that reflect the final socially significant outcomes. The goal is that by 2025 the administrative costs of business should fall by 50%, while the losses from the supervised types of risks should be 30% lower. The number of fatalities, diseases, and poisonings related to the supervised types of risk is expected to halve.