How to do Director Inductions

Recommendations in the King Code of Corporate Governance (King III) the company secretary is expected to play a pivotal role in the governance of enterprises. This role includes attending to the induction and ongoing training and development of directors. New directors, especially those who have no previous experience in this role or are appointed as non-executive directors and need to be brought up to speed in the protocols of their new companies, often struggle to get acquainted with the provisions of the Companies Act 71 of 2008 and the recommendations and outcomes of governance practices in successful operations as envisaged in the King Reports. How to do Director Inductions is a practical book that explains the need to do director inductions, offers alternative approaches to director inductions, explains the preparation of the director’s file and the additional statutory, regulatory and administrative actions that should be taken when a new director is appointed. The bulk of the book is dedicated to the contents of the director’s file. Company secretaries and new directors will find the suggested alphabetical list of 45 topics a useful and informative tool. A three-point format is used to explain each topic: a brief description; what is expected of directors; and additional details, which usually include a reference to the King Reports, the Companies Act, or other relevant literature. Key topics include:
• Alternate directors
• Appointment (directors)
• Audit committee
• Board evaluations
• Code of ethics
• Conflict of interest
• Financial results
• Integrated report
• Policies
• Remuneration
• Risk management
• Written resolutions