As of 2022, ISO27001 is the most well-known information security standard, however few people outside of compliance experts know what it entails.

ISO27001 (full name, “ISO/IEC 27001:2013 – Information technology – Security techniques –   Information security management systems Requirements”) is an international standard for information security management.

Because of this status as a standard, organisations can undergo a process to obtain an ISO27001 certification from an external auditor. The resulting certificate can be used to evidence to external parties that the business has implemented rigorous information security controls in line with an internationally recognised specification.

Such a certificate can lead not only to the opening of new markets and increased competitive advantage, but also to reduced costs and improved performance in information security.

However, ISO27001 can be a time- and resource-consuming certification to achieve, and some organisations have found better outcomes by targeting their budget more directly at implementing security controls, rather than achieving certifications.

In this paper, we look at what ISO27001 requires of organisations, and investigate if Australian SMEs should consider the certification process. We not only discuss the standard and what it entails but also look at and compare other standards such as Essential 8 and NIST.

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