Governance

1.

A framework that provides guidance on strategy including assessing risk, ensures effective monitoring of management and makes certain that managers are accountable to stakeholders.

In the commercial context, this framework is known as corporate governance.

2.

The broader set of relationships and responsibilities of an organisation, particularly of a financial organisation.

Governance in this context extends to other parties including other interdependent organisations and the broader financial markets.

See also

• Accountability
• Corporate governance
• Ethics
• Process strategy
• Whistle-blowing