The Australian Competition and Consumer Commission (ACCC) has vowed to improve its external communication following the release of its first self-assessment report card.

“A majority of the ACCC’s business stakeholders have a positive view of our performance,” Chairman Rod Sims said.

“However, businesses that have been the subject of recent ACCC enforcement activity gave less positive assessments of the ACCC’s enforcement functions.

“Some key areas for attention and improvement have been identified… particularly in relation to fostering better communication with businesses that are subject to investigations and regulatory actions.”

The ACCC’s self-assessment is mandatory after the Federal Government implemented the Regulator Performance Framework in July last year.

The framework features six key performance indicators, and aims to reduce the cost of unnecessary or inefficient regulation by at least $1 billion annually.