What is ISO 27001/ BS 7799 / ISO 17799?

ISO 27001 is the replacement for BS7799-2. ISO 27001/ ISO 17799 standards were developed to create a common information security structure and thus cover technical, administrative and legal aspects alike. The standards lists the optimal practices companies must implement to manage computer security effectively. Implementation of the principles laid out in the standards makes it possible to detect, analyze and reduce information risks.