Best practices are used to maintain quality as an alternative to mandatory legislated standards and can be based on self-assessment or benchmarking. Best practice is a feature of accredited management standards such as ISO 9000 and ISO 14001.
Definition of monetary for English Language Learners. : 1  of or relating to money. : 2  of or relating to the money in a country's economy.
â¢ INTERNATIONAL MONETARY FUND (noun). The noun INTERNATIONAL MONETARY FUND has 1 sense: 1. a United Nations agency to promote trade by increasing the exchange stability of the major currencies. Familiarity information: INTERNATIONAL MONETARY FUND used as a noun is very rare.