Business Insurance has reported that the International Organization for Standardization has endorsed a proposal for international standards on risk management.   This is the first global document focused on establishing standards for risk management.  The balloting showed overwhelming support of the members of the international standards organization with only one country reported to have voted against this measure. 

The proposed standard draws heavily on the Australian and New Zealand standard  AS/NZS 4360:2004 but with a wider ranging scope designed to help multi-national organizations an approach rather than the regional focus of the AS/NZS standard.

While no certification will be available for this standard, I feel the ability to effectively establish broad based guidelines will advance the process and the risk management profession.  The new standard will be published in approximately 6 weeks. 

For complete details please refer to the Business Insurance article or the posting from the New Zealand Society for Risk Management .