Organizational governance concerns the structures, processes, and relationships used to direct, manage, and oversee an organization. Governance participants are accountable primarily to stakeholders, which may include shareholders, the board, regulators, employees, citizens, donors, and other parties affected by the organization’s objectives. Saying that those performing governance activities are accountable only to the customer is inaccurate and too narrow. Customers are important stakeholders, but they are not the sole accountability group in governance. An effective internal audit function supports governance by providing independent assurance on risk management, controls, ethics, compliance, and performance. Accountability is a core governance principle, and governance applies to private, public, governmental, and not-for-profit entities. Therefore, the statement in Option B is the one that is not correct.