Governance is the activity carried out by management, and it relates to the decisions that set expectations, grant authority, or verify performance. It consists either of a separate process or of a specific part of management or leadership processes, and sometimes a group of people forming a government to manage these processes and systems.
According to the International Finance Corporation (IFC): it is the system through which companies are managed and their business is controlled.
The Organisation for Economic Co-operation and Development (OECD): the set of relationships among those managing the institution, the board of directors, shareholders and others.
Establishing the foundations of an effective system for corporate governance.
Shareholders' rights and the most important functions of capital holders.
Fair treatment of shareholders.
Transparency and the disclosure of information.
The responsibility of the board of directors.
Board members and executives, compliance and audit officers, and public sector staff.
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