Governance and Risk Management refers to the frameworks and processes that organizations use to ensure effective decision-making and to identify, assess, and mitigate risks. Good governance involves establishing clear roles, responsibilities, and accountability, while risk management focuses on understanding potential threats to achieving organizational objectives. This includes financial, operational, and reputational risks. Effective governance and risk management are essential for maintaining stakeholder trust and ensuring compliance with laws and regulations. Organizations often implement policies and procedures to monitor risks continuously and adapt to changing environments. Tools such as risk assessments and internal audits are commonly used to support these efforts.