One of the essential governance roles is oversight or monitoring. Shareholders and other key stakeholders can use different sources of internal and external oversight to control the functioning of the company. The leadership in governance framework is employed to problematise the monitoring role, illustrating the need for multiple, diverse sets of governance systems arguing that formal regulations alone will not prevent bad behaviour and corporate collapse. In this chapter, a broader accountability approach that complements corporate governance and responsibly led board oversight is used. The boards’ conduct of oversight tasks is analysed, and insights are derived from two case studies in the financial and software industry. By focusing on formal and informal accountability in the conduct of board oversight, the cases provide evidence that boards can shape a specific combination of governance practices that are or are not in the company’s best interests.