Most organisations use IT as a fundamental business tool and few can function effectively without it.
The International Organisation for Standardisation (ISO) and theInternational Electrotechnical Commission (IEC) have jointly published the updated edition of ISO/IEC 38500:2015, Information technology –governance of IT for the organisation.
This standard aims to provide organisations with principles, definitions and a model for good governance of IT, and emphasises the use of IT in a whole-of-business context.
The Standard provides guiding principles for members of governing bodies of organisations (which can comprise owners, directors, partners, executive managers, or similar) on the effective, efficient, and acceptable use of information technology (IT) within their organisation.
ISO/IEC 38500 has its origins in an Australian Standard for IT Governance AS 8015, developed by Standards Australia in 2005. This Australian Standard was then adopted as an international standard by ISO and IEC in 2008. Standards Australia have led the world in the development and revision of such an important standard in the governance of IT.
CFA representative Paul Loney is on the Standards Australia Technical Committee IT-030 ICT Governance and Management that contributed to the review of the Standard; CFA provides volunteer representatives on Standards Australia Technical Committees as part of the CFA Standards Project; if you are interested in finding out more about the Project and/or becoming a volunteer CFA Standards Representative please contact the Standards Coordinator at standards@consumeraction.