What is ISO 31022 about?
ISO 31022 gives guidelines for managing the specific challenges of legal risk faced by organizations, as a complementary document to ISO 31000. The application of these guidelines can be customized to any organization and its context.
ISO 31022 provides a common approach to the management of legal risk and is not industry or Sector-specific.
Note: ISO 31022 is not intended to:
- Be a substitute for risk owners seeking expert legal advice (external or internal)
- Apply to the process of law-making or lobbying for new laws or changes to existing laws
Who is ISO 31022 for?
ISO 31022 on risk management guidelines for legal risk is useful for:
- Risk managers
- Board of advisors
- Legal advisors of an organization
Why should you use ISO 31022?
Organizations operate in a complex environment with a variety of legal risks. Not only are organizations required to comply with the laws of all the countries within which they operate, but legal and regulatory requirements can also vary between different countries, strengthening the need for organizations to understand and have confidence in their processes.
ISO 31022 guides you on the activities that support your organization to manage legal risk efficiently and cost-effectively to meet the expectations of a wide range of stakeholders.
ISO 31022 is aligned with ISO 31000 and provides more specific guidelines applicable to the management of legal risk. The purpose of ISO 31022 is to develop an improved understanding of the management of legal risks faced by an organization.
These guidelines are intended to help your organization to:
- Achieve the organization’s strategic outcomes and objectives
- Encourage a more systematic and consistent approach to the management of legal risk, and to identify and analyse a comprehensive range of issues so that legal risks are proactively treated with the appropriate resources and supported by top management and by the right level of expertise
- Better understand and assess the extent and consequence of legal issues and risk, and to exercise proper due diligence
- Identify, analyse, and evaluate legal risks, and provide a systematic way to make informed decisions
- Enhance and encourage the identification of opportunities for continual improvement.