Corporate governance refers to the decision systems through which the owners directly or indirectly govern the company. Governance, management and control in Carnegie are shared by the owners, the Board of Directors and the President. Carnegie also has a number of internal control functions. Carnegie’s various operations comply with the regulations and recommendations in the countries in which they operate. Governance within Carnegie is regulated by a number of internal policy documents and instructions that are reviewed and updated each year by the Board of Directors. In addition, there is a detailed internal regulatory framework that controls Carnegie’s business operations.