The guidance is set out as a non exhaustive checklist and includes practical points such as how to plan the timetable to avoid over-loading a new director and how to vary the way in which information is delivered. It also sets out topics it suggests should be covered in order to achieve the following five things, the first three being included in the original guidance from 2003 and the last two being the new elements highlighted in the updated note. Together the five topics are intended to build a new director's understanding of:
- the nature of the company, its business and the market in which it operates.
- the company's people.
- the company's main relationships
- the role of a director.
- the framework within which the board operates.
Click here for the ICSA Guidance on induction of directors.