The proper implementation of corporate governance is an absolute necessity to ensure accountability and data transparency, support healthy competitiveness among organizations.
This paper discusses challenges and highlights the importance of governance. It provides several examples of good governance giving special attention to effective IT governance, whose implementation has now became possible through the established frameworks, standards and guidelines, including ISO 17799, COBIT, ITIL, COSO and Val IT. The discussed governance cases and examples could eventually support the understanding and implementation of the effective governance standards and tools within organizations.