- Standard 3: Board Accountability

The land trust board acts responsibly in conducting the affairs of the organization and carries out the board’s legal, financial and other responsibilities in an ethical manner.


PRACTICE

A. Board Responsibility

The board is responsible for establishing the organization's mission, determining strategic direction and setting policies and priorities to carry out the mission, and, as required by law, the oversight of the organization’s finances and operations. As well, the board should ensure the prevalence of high ethical standards, effective performance through sound information, and the development of sound relationships. The board is also responsible for managing risk, taking account of the organization, and ensuring the soundness of the governance system. As the land trust is a charity, the board has a heightened duty of care with respect to the protection of its charitable property.