Governance

The systems and processes of management that govern an organization’s behavior and conduct. Governance covers accountability, auditing, transparency (openness), reporting and disclosure, responsibilities and representation of various stakeholders (including shareholders, board of directors, advisory boards, employees, etc.) as well as charters, by-laws, and policies document the rights and responsibilities of all parties. Governance often includes strategy, risk management, and compensation, benefits, and evaluation of senior management. There is growing inclusion of governance issues within international certification systems, such as the GRI.