AWS provides a set of commonly used permissions that you can attach to IAM users, groups, and roles in your account. These are called AWS managed policies. One example is read-only access for Amazon S3. When AWS updates these policies, the permissions are applied automatically to the users, groups, and roles to which the policy is attached. AWS managed policies automatically appear in the Policies section of the IAM console. When you assign permissions, you can use an AWS managed policy or you can create your own customer managed policy. Create a new policy based on an existing AWS managed policy, or define your own.
