Good governance provides assurance and confidence that rules are being followed; governance exists for the purpose of providing assurance to regulators that risks to shareholders, customers, and the public are being properly managed.

a. true

b. false

False

The answer is false

Explanation:

There are two concepts in Economics known as necessary and sufficient conditions.

Necessary condition is a condition that must exist so as to reach the target while sufficient condition guarantees the achievement of target, hence necessary condition is a means to an end, not an end in itself.

The concepts apply to good governance as the framework and policies symbolize necessary condition whereas the management and board active engagement in organization by implementing the good corporate governance best practice brings about confidence that the risks to stakeholders are being properly managed.