OFSTED look at the effectiveness of Governance including how well governors:
1. Ensure clarity of vision, ethos and strategic direction.
2. Contribute to the school's self evaluation and understand its strengths and weaknesses including the impact of their own work.
3. Support and strengthen school leadership including by developing their own skills.
4. Provide challenge and hold the headteacher and other senior leaders to account for improving the quality of teaching, pupils' achievement and pupils' behaviour and safety, including by using the data dashboard, other progress data, examination outcomes and test results.
5. Use performance management systems, including the performance management of the headteacher, to improve teaching, leadership and management.
6. Ensure solvency and probity and that the financial resources made available to the school are managed effectively.
7. Operate in such a way that statutory duties are met and priorities are approved.
8. Engage with key stakeholders.
9. Use the pupil premium and other resources to overcome barriers to learning, including reading, writing and mathematics.
OFSTED School Inspection Handbook, Sept 2013