We review recent theoretical progress in the computation of radiative corrections beyond one loop within the standard model of electroweak interactions, in both the gauge and Higgs sectors. In the gauge sector, we discuss universal corrections of O(G(F)(2)M(H)(2)M(W)(2)), O(G(F)(2)m(t)(4)), O(alpha sG(F)M(W)(2)) and O(alpha(s)(2)G(F)m(t)(2)), and those due to virtual t (t) over bar-threshold effects, as wll as specific corrections to Gamma(Z --> b (b) over bar) of O(G(F)(2)m(t)(4)), O(alpha(s)G(F)m(t)(2)) and O(alpha s3) including finite-m(b) effects. We also present an update of the hadronic contributions to Delta alpha. Theoretical uncertainties, other than those due to the lack of knowledge of M(H) and m(t), are estimated In the Higgs sector, we report on the O(alpha(s)G(F)m(t)(2)) corrections to Gamma(H --> f (f) over bar) including those which are specific for the b (b) over bar mode, the O(alpha(s)(2)) corrections to Gamma(H --> q (q) over bar) including the finite-m(q) terms, and the O alpha(s)) corrections to Gamma(H --> gg).