Annex 1.1 Preliminary impact and risk assessment
Purpose of the PIRA: A preliminary impact and risk assessment (PIRA) is intended to:
- Help agencies determine whether Cabinet’s Regulatory Impact Analysis (RIA) requirements apply to a policy initiative for which they are responsible.
- Help agencies identify the potential range of impacts and risks that might be presented by the policy options for a policy initiative or review, in order that these can be appropriately addressed in the regulatory impact analysis undertaken.
- Provide an initial plan for RIA processes and identify milestones, timeframes, and who to consult.
- Help Treasury policy teams determine the level and sort of policy engagement they wish to have with the lead agency on this policy initiative.
- Help Treasury confirm whether the nature and size of the potential impacts and risks warrant early RIAT engagement on RIA elements and involvement in providing independent quality assurance (QA) on the quality of the regulatory impact statement (RIS) that informs the policy proposals.
When to complete a PIRA: It should be started as early as possible in the policy development process (as soon as policy work commences). This includes processes such as reviews of policy or legislation where it is not known at the outset whether a regulatory option will ultimately be selected or preferred, but is one of the available policy options being considered.
How to complete it: Provide as much information as possible given the stage of policy development. This may not require definitive answers to all questions, and you may need to apply your judgement. Relevant supporting information may be attached. If there is insufficient information to enable Treasury to confirm “significance” at the initial stages of the policy process, the final confirmation of this may be deferred until later in the process.
Who to send it to: The PIRA should be provided to your Treasury policy team and copied to RIAT (email ria@treasury.govt.nz). Please also liaise with your agency's RIA team or panel (if you have one).
Who to contact if you have any questions: Your Treasury policy team is your first point of contact for enquiries about completing the PIRA.
