ISO 31000, Risk management – Guidelines, provides principles, a framework and a process for managing risk. It can be used by any organization regardless of its size, activity or sector. It can help organizations increase the likelihood of achieving objectives, improve the identification of opportunities and threats and effectively allocate and use resources for risk treatment. The standard cannot be used for certification purposes, but does provide guidance for internal or external audit programmes. Organizations using it can compare their risk management practices with an internationally recognized benchmark, providing sound principles for effective management and corporate governance.