^®: CRE Regulatory Action of the Week

CRE Distributes Proposed Risk Information Goals and Principles for Public Discussion
When the National Academies issued its January 2007 report on OMB’s proposed Data Quality guidance on risk assessment, the report recommended that the proposal be withdrawn and that OMB issue guidance to : “outline goals and general principles of risk assessment . . . ”, and then have the agencies develop their own technical guidance consistent with those goals and principles. At 7.

CRE has advocated the development of risk information guidance which would be issued pursuant to the Data Quality Act that would clarify how the established DQA standards of objectivity and utility would apply to risk information. The Academies’ report did not address the statutory requirement that risk assessments comply with the DQA; accordingly CRE has prepared for public discussion a document containing risk information goals and principles that it believes to be consistent with the DQA.