The new standard UNE-ISO 37004 provides a globally applicable means to measure the maturity of the governance of an organization based on the terms and principles of the ISO 37000.
It is applicable to all organizations regardless of type, size and location. Governance practices vary from organization to organisation and should be selected and implemented according to the specific and unique circumstances of each organisation. These variations are due to factors including how long the organization has been in existence, the organizational context, the number of personnel the organization employs, the types of resources the organization uses, and laws and regulations applicable to the organization.
The main benefits of evaluations, by or on behalf of an organization, can:
- Facilitate self-assessment
- Provide a basis for improvement
- Assist with addressing governance risks
- Be used as input for reports to stakeholders
- Provide a benchmark for comparison with others
Results can therefore be used, for example, by an organization’s:
- governing body to demonstrate the continual improvement of their governance of the organization
- internal stakeholders, such as personnel, to enhance their confidence that the governance of their organization is appropriate, effective and defensible
- external stakeholders, such as investors and regulators, for decision-making purposes
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