Transforming the IT organizations into effective and efficient IT service providers, to provide greater business value and comply with ever increasing legislations and regulations has increased the need for better IT governance. Governance can be defined as a set of protocols, procedures, best practices and guidelines that can be of assistance to make better decisions. Corporate governance is about promoting transparency and accountability. Sarbanes-oxley act of 2002 demands corporate fairness, transparency of transactions and holds executives accountable for material deficiencies. Enterprise governance describes a framework that covers both the corporate governance and business aspects of the organization. IT governance which is integral part of enterprise governance consists of the leadership, organizational structures and procedures that ensure that the IT sustains and extends the organization's strategies and objectives. IT governance is the responsibility of the board and executive management. Please note Information technology governance touches nearly every area detailed in the shown figure.
