ISO 27001 is a specification for an information security management system (ISMS). An ISMS is a framework of policies and procedures that includes all legal, physical and technical controls involved in an organisations information risk management.
Works on a top-down, technology-neutral, risk-based approach
Defining a security policy, defining the scope of ISMS, conducting risk assessment, managing assessed risks, picking control objectives that are to be implemented and preparing the statement of applicability.
Coordination between all sections of an organization and enhances management responsibility, ensures continual improvement, conducts internal audits and undertakes corrective and preventive actions.
It is the de facto international standard for Information Security Management
It demonstrates a clear commitment to Information Security Management to third parties and stakeholders
It can provide a framework to ensure the fulfilment of commercial, contractual and legal responsibilities
It provides a significant competitive advantage, and can effectively be a license to trade with companies in certain regulated sectors
It provides for inter-operability between organisations or groups within an organisation
It can provide compliance with, or certification against, a recognised external standard which can often be used by management to demonstrate due diligence.
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