Performance review: evaluation of year one of the new approach
We introduced our new approach to carrying out our regulator reviews at the beginning of 2022 and, a year later, we have carried out an evaluation to ensure that it is achieving what we wanted it to
Overall, we consider the first year of the new process to be successful. We have achieved or partly achieved nearly all the key benefits, though it is too early to tell how far we have succeeded in reducing the overall burden of the process. The key risks have not, as far as we can tell, materialised to an extent that we could not mitigate.
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