Yesterday I said that it is a very good practice for a software developement team to follow coding standadrds. I have often been asked, "why is it important?".
The primary reason is that following standards makes the program more readable, and hence more maintainable. More often than not, software is maintained by a different set of people than the ones who created it. If all programs adhere to standard coding conventions then the maintainers will be able to find what they need quicker and understand the program better. Eventually it translates into lesser hours spent for bug fixes and enhancements.