Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

New risk management Standard available now


STANDARDS NEW ZEALAND MEDIA RELEASE


26 November 2009


New risk management Standard available now – seminars planned for early 2010


The new Risk management – Principles and guidelines Standard, AS/NZS ISO 31000:2009 is available now for purchase from Standards New Zealand. AS/NZS ISO 31000:2009 is a joint Australia/New Zealand adoption of the newly published ISO 31000:2009, and supersedes AS/NZS 4360:2004.


Its predecessor, AS/NZS 4360 Risk management, was first published in 1995. After AS/NZS 4360 was last revised in 2004, the joint Australia/New Zealand committee OB-007 decided that rather than undertake a similar revision in 2009, it would promote the development of an international Standard on risk management, which could then be adopted locally.


The new Standard provides organisations with guiding principles, a generic framework, and a process for managing risk. New to this edition is the inclusion of 11 risk management principles an organisation should comply with, and a management framework for the effective implementation and integration of these principles into an organisation’s management system. Unlike previous editions, emphasis is given to considering risk in terms of the effect of uncertainty on objectives, rather than the risk incident.


This new edition also includes an informative annex that sets out the attributes of enhanced risk management for those organisations that have already been working on managing their risks and may wish to strive for a higher level of achievement.


Enabling effective risk management as outlined in AS/NZS ISO 31000 will assist organisations to:


• increase the likelihood of achieving objectives


• be aware of the need to identify and treat risk throughout the organisation


• improve the identification of opportunities and threats


• comply with relevant legal and regulatory requirements and international norms


• improve financial reporting


• improve governance


• improve stakeholder confidence and trust


• establish a reliable basis for decision-making and planning


• improve controls


• effectively allocate and use resources for risk treatment


• improve operational effectiveness and efficiency


• enhance health and safety performance, as well as environmental protection


• improve loss prevention and incident management


• minimise losses


• improve organisational learning


• improve organisational resilience.


HB 436:2004 Risk management guidelines – Companion to AS/NZS 4360:2004 can be used as a supplementary handbook to AS/NZS ISO 31000:2009 and provides practical advice to help organisations to apply AS/NZS ISO 31000:2009. This handbook is currently being revised and is expected to be published in early 2010.


Seminars planned for 2010


AS/NZS ISO 31000:2009 seminars are planned for late February/March in Auckland, Wellington, and Christchurch. To register your interest, please email seminars@standards.co.nz with your details.


Order or download AS/NZS ISO 31000:2009 from www.standards.co.nz, email enquiries@standards.co.nz, or call 0800 782 632.


Get the latest Standards news in Touchstone, Standards New Zealand monthly electronic magazine at www.standards.co.nz/touchstone. To sign up to receive monthly updates about Standards in sectors relevant to you, visit www.standards.co.nz/touchstone, scroll to the end and click ‘subscribe’.


Keywords


Risk management Standard, managing risk, risk management principles, business risk, management system, management framework, general business, legal and regulatory requirements, financial reporting, governance, minimise losses, organisational learning, organisational resilience, stakeholder confidence, decision-making and planning, operational effectiveness and efficiency, health and safety performance, environmental protection, loss prevention, incident management.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Westpac: Sets Out Plan To Go Cheque-Free

Westpac NZ has announced details of its plan to phase out cheques, after signalling in May that it would be supporting a move to other forms of payment. Cheques will cease to be available as a means of payment after 25 June 2021. Westpac NZ General ... More>>

ALSO:

NZTA: Major New Zealand Upgrade Programme Projects Go To Tender

Two major New Zealand Upgrade Programme projects are beginning tenders for construction. The New Zealand Upgrade Programme is a $6.8 billion investment to get our cities moving, to save lives and boost productivity in growth areas. The first Auckland ... More>>

Reserve Bank: RBNZ Seeks To Preserve Benefits Of Cash

The Reserve Bank – Te Pūtea Matua is taking on a new role of steward of the cash system “to preserve the benefits of cash for all who need them”, Assistant Governor Christian Hawkesby told the Royal Numismatics Society of New Zealand annual conference ... More>>

ALSO:

Economy: Double-Dip Recession Next Year, But Housing Rolls On

New Zealand's economy is expected to slip back into recession early next year as delayed job losses, falling consumer spending, and the absence of international tourists bites into growth. More>>

ALSO:

Microsoft New Zealand: Microsoft Expands “Highway To A Hundred Unicorns” Initiative To Support Startups In Asia Pacific

New Zealand, 14 October 2020 – Today Microsoft for Startups launches the Highway to a Hundred Unicorns initiative in Asia Pacific to strengthen the region’s startup ecosystem. This follows the initiative’s success in India, where 56 startups were ... More>>

Fonterra: Farmers Taking Another Step Towards New Zealand’s Low Emissions Food Production

They’re hot off the press and intended to help take the heat out of climate change. Fonterra farmers are already among the world’s most sustainable producers of milk and now have an additional tool in their sustainability toolbox. Over the last few ... More>>

ALSO:



Courts: Businessman Eric Watson Sentenced To A Four-Month Jail Term

New Zealand businessman Eric Watson has been sentenced to a four-month jail term in the UK for contempt of court, TVNZ reports. More>>

OECD: Area Employment Rate Falls By 4.0 Percentage Points, To 64.6% In Second Quarter Of 2020

The OECD area employment rate – the share of the working-age population with jobs – fell by 4.0 percentage points, to 64.6%, in the second quarter of 2020, its lowest level since the fourth quarter of 2010. Across the OECD area, 560 million persons ... More>>

Spark: Turns On 5G In Auckland And Offers A Glimpse Into The Future Of Smart Cities

Spark turned on 5G in downtown Auckland today and has partnered with Auckland Transport (AT) to showcase some of the latest in IoT (Internet of Things) technology and demonstrate what the future could look like for Auckland’s CBD with the power of 5G. 5G is ... More>>

Stats NZ: Monthly Migration Remains Low

Since the border closed in late-March 2020, net migration has averaged about 300 a month, Stats NZ said today. In the five months from April to August 2020, overall net migration was provisionally estimated at 1,700. This was made up of a net gain ... More>>

University of Canterbury: Proglacial Lakes Are Accelerating Glacier Ice Loss

Lake Tasman, New Zealand | 2016 | Photo: Dr Jenna Sutherland Meltwater lakes that form at glacier margins cause ice to recede much further and faster compared to glaciers that terminate on land, according to a new study. But the effects of these glacial ... More>>

ALSO:

Dairy: Fonterra Sells China Farms

Fonterra has agreed to sell its China farms for a total of $555 million (RMB 2.5 billion*1), after successfully developing the farms alongside local partners. Inner Mongolia Natural Dairy Co., Ltd, a subsidiary of China Youran Dairy Group Limited ... More>>

ALSO: