The governing board plays a central role in balancing the competing needs of stakeholders while ensuring the organization operates with integrity, reliability, and accountability. This aligns with governance principles that emphasize strategic oversight, risk management, and compliance.

Responsibilities of a Governing Board:

Strategic Oversight:

Guides the organization by setting objectives and ensuring alignment with its mission and values.

Balancing Stakeholder Needs:

Balances the interests of diverse stakeholders, such as shareholders, employees, customers, regulators, and the community.

Constrain and Conscribe:

Ensures that resources are appropriately allocated, risks are managed, and ethical standards are upheld.

Integrity and Reliability:

Enforces a culture of accountability and ethical behavior through governance policies and frameworks.

Why Option D is Correct:

The governing board is responsible for guiding the organization strategically, constraining it through policies, and conscribing its actions to ensure alignment with objectives and values.

Options A (risk manager), B (general counsel), and C (compliance unit) are specialized roles that focus on specific aspects of GRC, but they report to and operate under the guidance of the governing board.

Relevant Frameworks and Guidelines:

ISO 37000 (Governance of Organizations): Defines the role of governing bodies in balancing stakeholder needs and ensuring principled performance.

COSO ERM Framework: Emphasizes governance as a critical component of enterprise risk management.

In summary, the governing board ensures the organization achieves its objectives, manages uncertainty, and acts with integrity, making it the central body for balancing stakeholder needs.