IGTA Journal - Autumn 2017

"ISO or not ISO?" that is the question The fact is that it that setting out to lay down a clear framework for managing risk in just a few pages in a very hard task. However, that is the challenge that the ISO organisation has set itself since 2009. At least we had a helpful and well-thought-out framework as a basis, together with guidance, which was recently updated. No doubt it will need to change further in the future to adapt to the complexities of risk management which are continually evolving and becoming more convoluted. The economy has become global. The activities and risks that flow from this are intimately correlated. The world is becoming more and more difficult to manage, particularly through the emergence of new risks. These include the digital transformation, "Uberisation" and cyber risks, together with risks that are resurfacing such as taxes, and geopolitical, regulatory and reputational risks. In an environment that is uncertain to say the least, it is vital to be able to offer an adequate risk management framework and, just as importantly, to let the outside world know about it. Your ability to manage risk will reassure investors and will create value over time. So don't delay in complying with one or other of the authoritative frameworks designed for this purpose. Note: for further information go to: www.iso.org where you can buy this guide and its supplement for the vocabulary used. IGTA eJournal | Autumn 2017 | 39