An ISO standard can be thought of as a formula that describes the best way of doing something.
In the case of ISO 37000:2021 Governance of Organisations, a team of international experts collaborated to formulate corporate governance standards for the International Organization for Standardization.
Why a standard for Corporate Governance?
Apart from emphasising the importance of good governance within all companies, ISO 37000 (Governance of Organisations) demonstrates the continually unfolding need for all board members to practically consider governance. Too often governance is approached with a ‘once and done’ attitude; it is moving, flexible and dynamic though – both in the external environment as well as internally. Governance is a ‘way of thinking’ before it is a set of things that we put in place.
While ISO 37000 (Governance of Organisations) is not a prescriptive approach, it is a descriptive one aiming to grow businesses and economies.
Advantages and benefits of aligning to these standards sees:
- Incorporating the latest thinking on directors’ duties and obligations
- An increasingly holistic view of a business – beyond just a financial perspective – leading to more sustainable growth in turn
- Better governance, better boards and better companies
- Lower potential risk and liability
- Increased investor confidence
Leveraging ISO 37000 Practically
The EAVCA invite you to join Sirdar Senior Partner Roger Hitchcock for a one-hour webinar during which he will examine the changes underway in the corporate governance world by focusing on how to approach ISO 37000 (Governance of Organisations) in thinking, deciding and doing in companies and in boardrooms.