ISO 37005-2024 PDF

Full title and description

St ISO 37005-2024 — Governance of organizations — Developing indicators for effective governance. Guidance for governing bodies and other stakeholders on designing, selecting and using indicators to support oversight, decision-making and reporting across all types of organizations.

Abstract

This document provides guidance to governing bodies on how to approach the development, selection and use of indicators in their governing activities. It is intended primarily for governing bodies but is also relevant to internal and external stakeholders who rely on governance information to assess and support organizational decision-making. The standard is applicable to organizations of any type, size, structure or purpose and focuses on the process of developing indicators rather than prescribing particular measures of governance effectiveness.

General information

• Status: Published.
• Publication date: July 2024 (publication reported 31 July 2024 by national resellers).
• Publisher: International Organization for Standardization (ISO).
• ICS / categories: 03.100.02 — Governance of organizations / related governance classifications.
• Edition / version: Edition 1, 2024.
• Number of pages: 18 pages (official ISO metadata).

Scope

Provides guidance on designing, developing and implementing indicators to inform governance activities. The standard covers principles, processes and good practices for identifying indicator needs, defining measurable metrics, assuring data quality and aligning indicators with governance objectives and stakeholder information requirements. It does not prescribe specific governance performance indicators nor does it evaluate whether particular indicators demonstrate “effective governance” — its focus is methodological and guidance-based for any organization.

Key topics and requirements

• Principles for developing governance indicators: relevance, clarity, measurability and alignment with governance objectives.
• Processes for identifying stakeholder information needs and mapping indicators to decision‑making responsibilities.
• Guidance on indicator design: definitions, data sources, time horizons, baselines and targets.
• Data quality considerations: reliability, timeliness, completeness and validation practices.
• Reporting and use: presenting indicators to governing bodies, integrating with assurance and internal reporting, and periodic review of indicator portfolios.
• Governance of the indicator lifecycle: ownership, roles, review cycles and continuous improvement.

Typical use and users

Primary users are governing bodies (boards, supervisory bodies, trustees) and those who support them (chief executives, corporate secretaries, governance professionals, internal auditors and reporting teams). Secondary users include regulators, assurance providers, governance advisers and consultants who design governance reporting and monitoring frameworks. Organizations of all sizes and sectors may apply the guidance to improve the quality and usefulness of governance information.

Related standards

Part of the ISO governance family developed by ISO/TC 309. Relevant related standards include ISO 37000:2021 (Governance of organizations — Guidance), ISO 37002:2021 (Whistleblowing management systems — Guidelines) and ISO 37001 (Anti-bribery management systems) which together address complementary aspects of governance, whistleblowing and integrity/compliance. These documents are commonly used together when designing governance, assurance and integrity frameworks.

Keywords

governance; indicators; metrics; boards; oversight; governance reporting; data quality; ISO/TC 309; governance frameworks; performance indicators.

FAQ

Q: What is this standard?

A: ISO 37005:2024 provides guidance for developing, selecting and using indicators to support governing bodies and stakeholders in exercising oversight and making governance decisions.

Q: What does it cover?

A: It covers principles and practical steps for indicator design, data quality and reporting processes, and the governance of the indicator lifecycle; it does not prescribe specific governance performance measures or evaluate indicator outcomes.

Q: Who typically uses it?

A: Boards, governing bodies, CEOs, corporate secretaries, governance teams, internal auditors, assurance providers and governance consultants — essentially anyone responsible for designing or using governance reporting.

Q: Is it current or superseded?

A: Current — ISO 37005 was published in 2024 as the first edition and is listed as published in ISO metadata (July 2024). Organizations should check national bodies or ISO for the latest status if required.

Q: Is it part of a series?

A: Yes — it sits within the governance guidance suite maintained by ISO/TC 309 (which includes ISO 37000, ISO 37002, ISO 37001 and related guidance), and is intended to be used alongside those documents for broader governance, compliance and integrity practices.

Q: What are the key keywords?

A: Governance, indicators, metrics, boards, oversight, reporting, data quality, ISO/TC 309.