The structure by which companies are governed and regulated is through corporate governance. Board of directors are accountable for the regulation of their corporations. In governance, the task of shareholders is to appoint directors and auditors and to assure themselves that an effective governance system is in place. The board's duties include setting the organizational strategy of the company, taking responsibility to execute them, monitoring company management and reporting to shareholders on their development. Therefore, corporate governance is about what a corporation's board does and how it establishes the company's principles and full-time executives must identify this from the operating management of the company. Corporate governance is intended to promote appropriate, growth-oriented and responsible management that can achieve the company's long-term success