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Auditing Social Media: A Governance and Risk Guide by J. Mike Jacka, Peter R. Scott

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CHAPTER 6

Social Media Governance

Many interpretations exist about what constitutes “governance.” Some see the governance role as being the responsibility of the boards of governors and related oversight committees. For purposes of discussing the role of governance in an organization’s social media experience, we are going to use a much broader definition, looking at the various levels of governance, assurance, risk mitigation, control, and compliance issues.

Put another way, we look at governance as “who’s watching the store.” Beyond that we also consider who is building the store, who is running the store, and who is making sure the store is successful. Accordingly, in working through the aspects of governance (as we have just defined it) relating to the use of social media, we explore strategic, executive, and execution oversight, as well as the role of the assurance providers (e.g., internal auditing, risk management, compliance, and legal) in social media governance.

Boards of Directors

The highest level of corporate governance is usually located at the board of directors, board of governors, or other similar structure. The involvement of the board depends on the strategic impact of the organization’s choices related to social media. In other words, if the organization has determined it is best to ignore or only stick a toe into the waters of social media, then there will be limited reporting to the board. If social media is to be a significant part of the organization’s ...

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