Explanation:
Governance is the set of responsibilities and practices exercised by the board and executive management with the goal of providing strategic direction, ensuring that objectives are achieved, ascertaining that risks are managed appropriately and verifying that the enterprise’s resources are used responsibly. The audit committee, the chief information officer (CIO) and the IT strategy committee all play a significant role in the successful implementation of IT governance within an organization, but the ultimate accountability resides with the board of directors.