The demand for management consultancy services has increased tremendously over the past few years; in favour of gaining a competitive edge, businesses of all sizes and structures are seeking out their specialised knowledge to innovate, improve and enhance them at every level.

The introduction of ISO/DIS 20700 – Guidelines for Management Consultancy Services (due to be published early next year) was developed to improve the transparency and consistency of management consultancy services by providing a benchmark against what is expected, effective, and efficient. By adding a layer of credibility and confidence, the incorporation of an internationally recognised standard will improve the way clients and consultants work together, thereby improving the interoperability and quality of the management consulting industry as a whole.

To ensure the alignment of information between clients and consultants, ISO/DIS 20700 will cover:

• Awareness of regulatory framework – maintain an appropriate level of awareness of regulations and standards that govern their services and those of the client
• Stakeholder engagement and commitment – identify and engage with relevant stakeholders to agree on their involvement
• Code of ethical and professional conduct – guide the ethical and professional conduct of the management consultancy service provider during the assignment
• Project governance – define the mechanisms and controls to monitor, support and enforce ethical behaviour, and to facilitate the reporting of unethical behaviour without fear of reprisal
• Capability – develop and maintain appropriate capability throughout the assignment
• Communication – maximise understanding, creates confidence, and minimises risks
• Data protection and confidentiality – maintain credibility and confidence of clients by safeguarding the rights of privacy of all stakeholders
• Protection of intellectual property – retain intellectual property rights on relevant concepts and techniques
• Social responsibility – achieve socially responsible outcomes
• Health and safety – assess and mitigate the assignment-related risks to the health and safety of the consultants and other relevant stakeholders
• Risks and quality management – coordinate and apply the required resources to minimise, monitor and control the probability and impact of unforeseen events

Compliance Council are highly supportive of the provision of ISO/DIS 20700 and are in the process of revising our Business Management System to comply with this new upcoming standard.