The Australian Securities and Investments Commission (ASIC) strongly endorses the results of a research project that aims to identify the factors that influence responses to whistleblowing across a wide range of both public and private institutions, the regulator announced on Wednesday.
The research was carried out by a multi-university team of academics, which was funded by the Australian Research Council. It’s designed to provide a clearer basis for evaluating and improving organizational procedures, enhancing public policy, and informing whistleblower protection laws.
The research is the first effort to systematically compare the levels, responses, and outcomes, of whistleblowing in multiple organizations in various sectors, the ASIC says.
“The release of the new results provides an important new picture of where the strengths and weaknesses lie in current whistleblowing processes,” says John Price, ASIC commissioner, in a statement.
“This demonstrates firstly, the value of the project and of participating in it, but also why it’s important that industry take a proactive approach to helping identify and adopt best practice, so that improvements in this area are well-informed and well-targeted on what’s needed,” he adds.
The ASIC encourages corporate officers and directors to support the research, saying that it provides, “a strong rationale for both industry and regulators to understand the importance of effective whistleblower programs within their workplaces.”