ISO 22000
International standard for food safety management systems
Basel III
Global framework for bank capital, leverage, liquidity resilience.
Quick Verdict
ISO 22000 provides certifiable food safety management for food chain organizations worldwide, while Basel III mandates capital, leverage, and liquidity standards for banks. Companies adopt ISO 22000 for market access and trust; banks implement Basel III for regulatory compliance and resilience.
ISO 22000
ISO 22000:2018 Food safety management systems
Key Features
- Adopts High-Level Structure for integrated management systems
- Dual PDCA cycles for organizational and operational control
- Integrates HACCP principles with management system discipline
- Systematic PRP, OPRP, CCP categorization and validation
- Interactive communication as core hazard control mechanism
Basel III
Basel III Prudential Regulatory Framework
Key Features
- Strengthened CET1 capital ratios and conservation buffers
- Non-risk-based leverage ratio minimum 3%
- Liquidity Coverage Ratio for 30-day stress survival
- Net Stable Funding Ratio for structural resilience
- Enhanced Pillar 3 disclosures and RWA output floor
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
ISO 22000 Details
What It Is
ISO 22000:2018 is an international certification standard for Food Safety Management Systems (FSMS). It provides requirements to ensure organizations in the food chain consistently deliver safe products by preventing hazards. Scope covers all food chain stages, using risk-based thinking, HACCP principles, and two nested PDCA cycles (organizational and operational).
Key Components
- Clauses 4-10 follow High-Level Structure (HLS) for integration.
- Core elements: PRPs, hazard analysis, OPRPs/CCPs, traceability, verification.
- Built on Codex HACCP, interactive communication, leadership accountability.
- Voluntary certification via accredited bodies with staged audits.
Why Organizations Use It
- Meets customer/regulatory demands, enables market access.
- Reduces recalls, enhances supply chain resilience.
- Builds trust, supports GFSI schemes like FSSC 22000.
- Drives efficiency, continual improvement.
Implementation Overview
- Phased: gap analysis, PRPs, hazard control plan, training, audits.
- Scalable for SMEs to multinationals across food sectors globally.
- Requires 6-18 months, internal audits, management reviews for certification.
Basel III Details
What It Is
Basel III is the international prudential regulatory framework issued by the Basel Committee on Banking Supervision (BCBS) post-global financial crisis. It strengthens bank resilience by enhancing capital quality and quantity, introducing leverage and liquidity constraints, and improving risk measurement comparability. Its multi-metric, risk-based approach combines RWA-based ratios with non-risk-based backstops and standardized liquidity metrics.
Key Components
- **Three PillarsPillar 1 (capital ratios like CET1 4.5%, leverage 3%, LCR/NSFR), Pillar 2 (supervisory review/ICAAP), Pillar 3 (enhanced disclosures).
- Core elements: capital buffers (CCB 2.5%, CCyB, G-SIB), output floor (72.5% standardized RWA), revised risk approaches.
- Built on risk sensitivity balanced with simplicity; no fixed controls but detailed standards and templates.
- Compliance via national implementation, no central certification.
Why Organizations Use It
- Mandatory for internationally active banks to meet global minima and avoid penalties.
- Enhances resilience, reduces systemic risk, improves funding costs.
- Builds stakeholder trust through transparency; strategic for balance-sheet optimization.
Implementation Overview
- Phased enterprise transformation: governance, data systems, models, reporting.
- Applies to large banks globally; involves QIS, parallel runs, supervisory engagement.
- No certification but RCAP assessments and audits required. (178 words)
Key Differences
| Aspect | ISO 22000 | Basel III |
|---|---|---|
| Scope | Food safety management systems (FSMS) | Bank capital, liquidity, leverage requirements |
| Industry | Food chain organizations worldwide | Internationally active banks globally |
| Nature | Voluntary certifiable management standard | Mandatory prudential regulatory framework |
| Testing | Internal audits, management reviews, certification audits | Stress testing, ICAAP, supervisory reviews |
| Penalties | Loss of certification, market exclusion | Fines, asset caps, business restrictions |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about ISO 22000 and Basel III
ISO 22000 FAQ
Basel III FAQ
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