Australia sets new standard

THE next stage of a risk management revolution has been released by Standards Australia.

The first incarnation of the joint Australian-New Zealand Standard AS/NZS 4360 debuted in 1995 and has since drawn an international following. It was the world’s first risk management standard.

The revised AS/NZS 4360 coincides with new research on risk management in Australia, indicating many local companies are unprepared to deal with unexpected interruptions to their activities.