Good governance in the public sector is about delivering priorities, achieving objectives, behaving with integrity and acting in the public interest. Effective risk management supports good governance as it clarifies accountabilities, analyses and responds to uncertainties within decision making arrangement, and assists in determining priorities and setting objectives.  In fact, an integrated and holistic approach to risk management is seen to be one of the keystones in achieving effective corporate governance.

IFAC’s International Framework: Good Governance in the public sector identifies that good governance encourages better informed and longer-term decision making, strengthening accountability for the stewardship of resources, improving public sector performance resulting in more effective interventions and ultimately better outcomes for the public that is served.