The Entertainment Software Review Board (ESRB) has teamed up with trade group Cellular Telecommunications Industry Association to create a standardized rating system for mobile applications and games. The ESRB says that the new ratings system will be "based on age-appropriateness of their content and context," according to Gamasutra. An official announcement on the new ratings system will take place next Tuesday in Washington, DC.
Currently there is no unified ratings system for applications across mobile platforms, though each (iOS, Android, etc.), has some sort of ratings program in place either facilitated by the platform maker or as a function that developers can use prior to release.
The ESRB is owned by the Entertainment Software Association but operates as a separate entity.