Governance is the term used to overarch the activities, workings and processes by which an organisation implements and achieves its objectives.
Organisations should strive to implement and maintain good governance to gain and retain the confidence of its stakeholders and the community.
Good governance involves:
- The highest ethical standards
- Compliance with all regularity regimes
- Acting within the confines of its constitution/rules
- Adopting and maintaining proper accounting standards
- Adopting and maintaining a proper reporting regime
- Accountability to members; and
- The highest standards of propriety in undertaking the duties of board members.
Adherence to the principles of good governances is something to which all persons charged with the running or overseeing of the organisation should aspire and if maintained will lead to the sustainability of the organisation.