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45126-Invest. Qual-No111

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Infrastructure, Public Utilities and Spatial Developmentshareholder) or between political interests and overall efficientdevelopment of network industries. However, it is clear that theinterests of society and economy in a democracy demand that suchdelegation of responsibility be accompanied by clear and definedaccountability mechanisms.There are a number of means by which the recently establishedindependent regulatory bodies are currently held accountable by theState. The first is through their openness to public scrutiny. All suchindependent regulators currently come under the umbrella of theFreedom of Information Act, 1997, which requires them to keeprecords for public scrutiny. In addition, the production of welldesignedand implemented consultation programmes and strategystatements in which they are required to engage can not onlyincrease transparency but can “contribute to higher qualityregulations, identification of more effective alternatives, lower coststo the consumer and businesses, and better compliance and fasterregulatory responses to changing conditions” (Department of theTaoiseach, 2002a). The independent regulatory bodies are alsosubject to ex post budgetary scrutiny by the Comptroller andAuditor General and by the Oireachtas through the requirement topresent an annual report of work completed and a work programmefor the coming year to the Minister, which must be laid before theOireachtas within six months of the end of the year.The independent regulators are also subject to the relevant sectoralcommittee of the Oireachtas. However, in its review of RegulatoryReform in Ireland, the OECD noted that the Oireachtas and itscommittees lacked capacity for effective oversight and recommendedthat Ireland should consider a strategy to improveOireachtas accountability procedures, including appropriateresources (OECD, 2001d). In particular, it was suggested thatattention should be paid to managing information to permit thecommittees to focus on strategic policy decisions.The independent regulatory bodies are also accountable to thejudiciary through statutory provision for judicial review ofdecisions made by regulators. This can examine the manner inwhich such decisions were made and the procedures followed by515

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