Beyond administration: Redefining the challenge of regulatory change

Regulation of corporate and financial sectors has increased in recent years as a response to the spate of corporate collapses and regulatory transgressions that have created an expectation from the community for protection (Banks, 2006). However, concerns about these new regulations have been raised (e.g., Business Council of Australia, 2005; Wagner and Dittmar, 2006; Regulation Taskforce, 2006). They are reported to be both costly to implement and only partially successful in achieving the intended outcomes