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. : of or relating to money or to the mechanisms by which it is supplied to and circulates in the economy a crime committed for monetary gain a government's monetary policy.
Top 10 facts about the world. A monetary award can be any form of compensation or bonus made in monetary form. This can include work bonuses, lottery winnings, scholarships, prizes in a competition, or awards that are part of a judicial decision.