IT and business leaders must face the fact that social collaboration is already a reality. However, while social collaboration is increasing, several significant events (eg an increased regulatory environment, transparency focus, globalisation, stricter controls and the increasing accountability of corporate officers) have put the topic of governance (corporate, IT and others) in the spotlight. While businesses are seeing the value of becoming more open through social collaboration, there is a tightening of regulations impacting corporate governance and, subsequently, IT governance.