What is “governance”?
There is no one conclusive definition of organisation governance. What is conclusive however is that effective governance is essential, today more than ever. The following definition provides sound insight into the broad nature of governance.
The Governance Institute of Australia defines governance as: “the system by which an organisation is controlled and operates, and the mechanisms by which it, and its people, are held to account. Ethics, risk management, compliance and administration are all elements of governance.”