Common use of Authoritative Standards Clause in Contracts

Authoritative Standards. Client acknowledges that there is no authoritativestandard against which risk management practices can be directly compared. In practice, methodologies and approaches to measuring, managing and controlling risk vary considerably. New and refined practices continue to evolve and the characterisation of policies, procedures or models as sound, “industry standard” or “best” practices is judgmental and subjective.

Authoritative Standards. Client acknowledges that there is no authoritativestandard authoritative standard against which risk management practices can be directly compared. In practice, methodologies and approaches to measuring, managing and controlling risk vary considerably. New and refined practices continue to evolve and the characterisation of policies, procedures or models as sound, “industry standard” or “best” practices is judgmental and subjective.

Authoritative Standards. Client acknowledges that there is no authoritativestandard authoritative standard against which risk management management, business consulting, and technology consulting practices can be directly compared. In practice, methodologies methodologies, and approaches to measuring, managing managing, and controlling risk vary considerably. New and refined practices continue to evolve and the characterisation of policies, procedures procedures, or models as sound, “industry standard” or “best” practices is are judgmental and subjective.