Learn Practice Element 6C1: Obtain an Annual Financial Audit, Review or Compilation

This guidance covers Practice 6C: External Financial Evaluation.

This 15-minute course goes into detail about what a land trust can expect when engaging in an audit.

A previous module provided an overview of the types of professional accounting services available and factors for land trusts to consider when selecting a service.

Land Trust Standards and Practices, Practice 3B: Board Composition and Structure, includes five elements. This 15-minute module covers the third element:

3. Have a board development process that includes procedures for recruiting and training board members

This module explores the accreditation requirements for the Finance group, the documents needed for accreditation and how the Requirements Manual can help you prepare a successful application.

Land Trust Standards and Practices, Practice 5B: Accountability to Donors, includes four elements. This 30-minute module covers the third element:

3. Maintain financial and other systems to document and comply with any donor restrictions on gifts

Finding a qualified auditor who has experience (ideally) with land trusts or (at a minimum) with nonprofits is key to smooth process. This document provides tips for choosing the right person.

Land Trust Standards and Practices, Practice 5B: Accountability to Donors, includes four elements. This 12-minute module covers the second element, 5B2.

This guidance covers Practice Element 6A1: Develop an annual budget that reflects the land trust’s annual programs and activities.

Land Trust Standards and Practices Practice Element 3A2 on board oversight, includes five elements. This module addresses the first element, 3A2a: Reviewing and approving an annual budget.