The University of SydneyPage 25Why Governance?–Information and IT systems are critical to the operation of virtually all organisations–Reliance on information has become an indispensable component of business–In many organisations, information is thebusiness–Relentless advances of info tech has brought tremendous benefits along with new risks –Management is challenged to stay competitive, seek ever greater gains from info tech and provide greater assurance of performance–Complexity, relevance and criticality of information security requires it be addressed and supported at highest organisationallevels–The diffusion of technology and the commodification of information transforms the role of information into a resource equal in importance to the traditionally important resources of land, labor and capital--Peter Drucker