Who governs FIFA?

Recent accusations about corruption have put pressure on FIFA to investigate some members of its executive committee. But the more important question is: who controls and supervises a self-perpetuating oligarchy at the top of organisations such as FIFA or the International Olympic Committee? Both organisations have tremendous power to goad independent nation states to spend billions to finance what is in effect a private hobby (but big business for the insiders involved in it as administrators, promoters or active participants). Both organisations are not much different from a monopoly and as such should be subject to strict supervision. In addition, members on the grass-roots level should determine who runs the organisations and - even more importantly - who supervises and audits their management.