The board has ultimate responsibility for organizational governance and for ensuring that appropriate governance structures and processes are established to direct, oversee, and monitor the organization. Governance encompasses the mechanisms through which objectives are established, accountability is maintained, stakeholder interests are considered, and organizational activities are directed toward achieving objectives. Senior and operational management execute activities and establish supporting operational and risk-management processes under authority delegated by the board, but ultimate governance accountability remains with the governing body. Internal audit does not design or own governance processes; rather, it independently evaluates their effectiveness and provides assurance and advice. Therefore, among the available choices, the board is the party responsible for ensuring the design and implementation of appropriate organizational governance processes and structures.