What role does corporate governance play with the practice of a Project Management Office?

It plays a vital role which is based on  the belief that the creation of value is intrinsically linked with good governance practices. The core principles of good corporate governance that PMO can adopt are based on the Corporate Governance Framework some of them are as under:

• ethical business conduct;
• responsible management and remuneration;
• sound financial reporting and risk management; and
• appropriate communication and disclosure

Very briefly: Governance: Is the administrative organization is required by the financial markets for companies listed in the global financial markets Authority - aimed to reach a transparency in all of its details: for staff and for big shareholders , small shareholders as well too to increase credibility in the companies.

    In terms of projects management the importance of governance is to increase transparency for profitable or loss range of projects and how does company to deal with the loans that draw in the projects.

There are many good answers ... no need to repeat answers already given

I agree with Mr. Mohammed Asim Nehal answer, Thanks

Thanks for invitation, and I am really sorry for my late, because I were  had a lot of work.

Governance or extending that to governance, risk compliance - GRC plays a vital role in PMO by setting standards and benchmarks of project management methodologies that a company embraces. It also sets toll gates for each phase of every project to be checked before marking them complete, kind of a template approach. It enables people to know what must be done in each project phase so that it can be marked as complete, a quality management approach.

Administration in general . 

Thanks for invitation .