The Courier-Mail

Top companies to blame for red tape


THE nation’s top companies have themselves to blame as much as government for being wrapped up in red tape.

Two-thirds of the 50 chief executives and chairmen from Australia’s top 200 listed companies surveyed said regulation was on the rise and a major burden.

But Deloitte, the company behind the survey, said the costs of complying with regulation­s imposed by the private sector were just as high as meeting government requiremen­ts. Deloitte managing partner assurance and advisory Richard Deutsch said: “There is a tendency in corporate Australia to focus on government red tape as a drag on productivi­ty and our discussion­s with chairs and CEOs have substantia­ted this.

“But, with the evidence that internal bureaucrac­y is as much, if not more of an issue, they also acknowledg­e that external regulation isn’t necessaril­y a burning platform for them. The real issue for many is corporate red tape.”

An emerging issue for company boards appears to be cyber security, though many survey respondent­s indicated their organisati­ons were not entirely equipped to deal with a data breach.

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