Which standard outlines domains which establish frameworks for risk assessment?

The selected standard, ISO/IEC 27001:2013, is indeed the correct choice when it comes to outlining domains that establish frameworks for risk assessment. This standard is part of the ISO/IEC 27000 family of information security management systems (ISMS) standards and provides a systematic approach to managing sensitive company information, ensuring its confidentiality, integrity, and availability.

ISO/IEC 27001:2013 specifically focuses on risk assessment and management as crucial components of an effective ISMS. It lays out a structured framework for identifying, assessing, and treating information security risks within an organization. This includes the requirement to establish and maintain a risk assessment process and to implement controls based on identified risks. The standard emphasizes the continuous improvement of the ISMS, all centered around an organization's specific risk environment.

In contrast, the earlier versions of this standard—such as ISO/IEC 27001:2005 and ISO/IEC 27001:2011—do not provide the same depth of guidance on risk assessment practices as the 2013 version. The update in 2013 introduced enhancements to align the standard with current risk assessment methodologies, making it more relevant to modern organizations' security needs and governance frameworks. Therefore, ISO/IEC