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The phrase "a governance issue" is correct and usable in written English.
It can be used when discussing problems or challenges related to the management or oversight of an organization, system, or policy.
Example: "The recent scandal has highlighted a significant governance issue that needs to be addressed immediately."
Alternatives: "a management concern" or "an oversight problem."
Exact(19)
"We have a governance issue.
"There are two issues in Roosevelt: a financial issue and a governance issue," Mr. Mills said.
"This has now become a governance issue," he said, one that has to be taken seriously in the executive suite.
But using digital technology is not just a skills challenge for charities, it is now a governance issue.
"This is a governance issue, and obviously much of the burden falls upon James given his role as a key executive".
If an organisation is unwilling to use a proper process to ensure that it hires the best possible directors, then this failure becomes a governance issue.
Similar(41)
"There is a corporate governance issue and an over-reliance on oil and gas at a time when they may lose their pricing power in Europe once U.S. starts exporting natural gas". According to the report, there are three key uncertainties hanging over Russia.
"I asked myself, if they found it necessary to close down a whole newspaper – this is a big, big deal for a company … is there a corporate governance issue here?
By presenting the unique case of potential new nuclear power plant build in Poland, we contribute an integrative view of energy policy as a public governance issue in contemporary Central and East European democracies.
"When a corporate governance issue comes to light," he said, "they need to be involved".
The shareholder proposal process is a corporate governance issue that is subject to diverse and deeply held beliefs.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com