What is RIA?

Regulatory Impact Analysis (RIA) is a process of systematically identifying and assessing the expected effects of regulatory proposal, using a consistent analytical method such as cost-benefit analysis. It is a comparative process which is based on determining the underlying regulatory objectives sought and identifying all the policy interventions that are capable of achieving them. These “feasible alternatives” are assessed using the same method to inform decision – makers about the effectiveness and efficiency of different options and enable the most effective and efficient options to be systematically chosen.