RIMS Encourages Countries to Adopt ISO 31000:2018 as National Standard
RIMS, the risk management society (TM), welcomes recent updates to ISO 31000:2018, one of the most widely-used guidance documents addressing risk management. RIMS members collaborated and delivered feedback to the ISO through its membership in
A few of the most notable revisions to ISO 31000:2018 include:
* Simplifying language and avoiding jargon to aid user understanding;
* Emphasizing the need to customize the proposed guidance to suit the organization's established risk management principles, processes and frameworks;
* Stressing the importance of integrating risk management into governance and decision-making processes;
* Incorporating risk management into strategic, operational, program and project levels objectives to create as well as protect value.
"The revised ISO: 31000:2018 reflects the evolution of risk management over the past decade from a separate, at times, departmentalized, activity to an integrated management competency," said RIMS Vice President of Strategic Initiatives
With the publication of the revised standard in February, national standards bodies are now considering whether to adopt ISO 31000 as their national risk management standard. As a member of the US TAG, RIMS supports US adoption of ISO 31000:2018 as an American risk management standard. As a global society, RIMS encourages countries around the world to adopt the ISO 31000:2018 as their respective risk management national standard.
"Risk management professionals will find that the revisions in the ISO 31000 standard and the 2017 COSO ERM Framework complement each other," according to
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