What does the acronym "ISO" refer to in risk management standards?

The acronym "ISO" stands for the International Organization for Standardization, which is a globally recognized body that develops and publishes international standards. In the context of risk management and information security, ISO standards provide a framework for organizations to manage risks to information and ensure the security of data.

ISO standards, such as ISO/IEC 27001, specifically focus on establishing, implementing, maintaining, and continuously improving an information security management system (ISMS). By adhering to these standards, organizations can systematically identify risks, implement necessary controls, and ensure compliance with legal and regulatory requirements. This helps organizations to enhance their resilience against various security threats, fostering trust with customers and stakeholders.

Understanding ISO is crucial for professionals in risk management and information security because it sets the benchmark for best practices and helps in establishing a standard approach to managing risks.