ABSTRACT
Governance can be difficult to define but is perhaps easier to recognise in practice. It involves the use of power to direct, control and regulate activities within an organisation. It deals with the high-level issues of strategy and policy direction, transparency and accountability and is not concerned with daily operations, which are the responsibility of management. Corporate governance refers to the systems and processes for ensuring proper accountability, probity and openness in the conduct of an organisation. This might include the processes by which committees are selected, monitored and replaced; the capacity of committees to effectively formulate and implement sound policies; and the respect of members for the structures and the procedures that govern economic and social interactions amongst them.
