The chairman of the board must ensure that each new director receives a formal and tailored induction to ensure his contribution to the board from the beginning of his term. The induction must include:

(a) Meetings with senior management, internal and external auditors and legal counsel;
(b) Visits to the licensee's facilities; and
(c) Presentations regarding strategic plans, significant financial, accounting and risk management issues and compliance programs.
January 2013