Induction for Board Members

It is crucial that every company has a full, formal and tailored induction process for its directors and the Chairman of the organization should ensure that each new Board Member has been formally inducted. Even with full due diligence, new directors will need to acquire a deep understanding of the culture of the company they are becoming part of. The induction might include:

• Officer role description
• Organisational history,overview & structure
• Mission, vision & values
• Code of Conduct
• Matters reserved for the Board
• Conflict of Interest Policy
• Declaration of Interest
• Strategic Plan
• Latest financial accounts
• Copy of Memorandum & Articles of Association / Constitution
• Board Minutes
• Policy on obtaining independent professional advice
• Health & Safety policy
• Sub Committee terms of reference

It is generally the responsibility of the company secretary as the chief administrative officer to facilitate directors' inductions and assist with their ongoing development as Board Members.

The objective of induction is to inform the director such that he or she can become as effective as possible in their new role as soon as possible.

For further information please visit: http://www.icsa.org.uk/assets/files/pdfs/guidance/030214.pdf