What It Is

ISO 45001:2018 is an international standard establishing requirements for occupational health and safety (OH&S) management systems (OHSMS). It provides a framework to prevent work-related injuries and ill health, improve OH&S performance proactively. Built on Annex SL High-Level Structure (HLS) and PDCA cycle, it adopts a risk-based approach.

Key Components

• Clauses 4-10 cover context, leadership, planning, support, operation, evaluation, improvement.
• Emphasizes hierarchy of controls, worker participation, contractor management.
• No fixed controls count; outcome-focused requirements.
• Optional third-party certification via audits.

Why Organizations Use It

• Reduces incidents, costs; enhances resilience.
• Meets legal/compliance needs; integrates with ISO 9001/14001.
• Builds stakeholder trust, competitive edge, insurance savings.
• Drives culture shift to proactive safety governance.

Implementation Overview

• Phased: gap analysis, policy/objectives, controls rollout, audits.
• Scalable for all sizes/sectors; 6-12 months typical.
• Certification involves Stage 1/2 audits, surveillance.

What It Is

APRA Prudential Standard CPS 234 (Information Security) is a binding prudential regulation issued by the Australian Prudential Regulation Authority, effective 1 July 2019. It mandates APRA-regulated entities like banks, insurers, and super funds to maintain information security capabilities commensurate with threats to protect confidentiality, integrity, and availability of information assets. The approach is risk-based, requiring proportionate governance, controls, and assurance.

Key Components

• Governance with Board ultimate accountability (paragraph 13)
• Information asset classification by criticality/sensitivity (paragraph 20)
• Commensurate controls across asset lifecycle (paragraph 21)
• Systematic testing, internal audit assurance (paragraphs 27-34)
• Incident response plans, annual testing (paragraphs 23-26)
• APRA notifications: 72 hours for material incidents, 10 business days for unremediable weaknesses (paragraphs 35-36) No fixed control count; focuses on outcomes with third-party extensions.

Why Organizations Use It

Mandatory for compliance to avoid enforcement; enhances resilience, reduces incident impact, builds trust. Strategic benefits include operational continuity, better vendor terms, market differentiation.

Implementation Overview

Phased: gap analysis, policy framework, asset register, controls, testing, monitoring. Applies to all sizes of APRA entities in Australia; requires demonstrable evidence via audits, no formal certification but supervisory reviews.