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Business sustainability has advanced from greenwashing and branding
to being a business imperative. Stakeholders, including
shareholders, demand, regulators require, and companies now need to
report their sustainability performance. No longer is this a choice
for businesses. A decade ago, fewer than 50 companies released
sustainability reports, and now more 8,000 global public companies
disclose sustainability performance information on some or all five
economic, governance, social, ethical, and environmental (EGSEE)
dimensions of sustainability performance, and this trend is
expected to continue. Indeed, more than 6,000 European public
companies would be required to disclose their environmental,
social, governance and diversity information for their 2017
reporting year. However, the proper determination of sustainability
performance, accurate and reliable reporting and independent
assurance of sustainability information remain major challenges for
organizations of all types and sizes. Through reading this book,
you will: Identify sustainability strategies to create innovation
in new products, services, energy-efficiency, environmental
facilities and green initiatives. Understand the role and
responsibilities of all participants in the corporate reporting
process, including directors, officers, internal auditors, external
auditors, legal counsel, and investors. See ways to improve public
trust, investor confidence, business reputation, employee
satisfaction, corporate culture, social responsibility and
environmental performance. Learn all five economic, governance,
social, ethical and environmental (EGSEE) dimensions of
sustainability performance separately and their integrated and
interactive effects on achieving the goal of creating sustainable
value for all stakeholders, including shareholders. Learn how to
adopt best practices in sustainability development and performance,
and deliver effective integrated sustainability reporting and
assurance.
Business sustainability has advanced from greenwashing and branding
to being a business imperative. Stakeholders, including
shareholders, demand, regulators require, and companies now need to
report their sustainability performance. No longer is this a choice
for businesses. A decade ago, fewer than 50 companies released
sustainability reports, and now more 8,000 global public companies
disclose sustainability performance information on some or all five
economic, governance, social, ethical, and environmental (EGSEE)
dimensions of sustainability performance, and this trend is
expected to continue. Indeed, more than 6,000 European public
companies would be required to disclose their environmental,
social, governance and diversity information for their 2017
reporting year. However, the proper determination of sustainability
performance, accurate and reliable reporting and independent
assurance of sustainability information remain major challenges for
organizations of all types and sizes. Through reading this book,
you will: Identify sustainability strategies to create innovation
in new products, services, energy-efficiency, environmental
facilities and green initiatives. Understand the role and
responsibilities of all participants in the corporate reporting
process, including directors, officers, internal auditors, external
auditors, legal counsel, and investors. See ways to improve public
trust, investor confidence, business reputation, employee
satisfaction, corporate culture, social responsibility and
environmental performance. Learn all five economic, governance,
social, ethical and environmental (EGSEE) dimensions of
sustainability performance separately and their integrated and
interactive effects on achieving the goal of creating sustainable
value for all stakeholders, including shareholders. Learn how to
adopt best practices in sustainability development and performance,
and deliver effective integrated sustainability reporting and
assurance.
This book examines the crucial role of investors both retail and
institutional investors and interment managers, the corporate board
of directors and management in collaborating to achieve financial
ESP and nonfinancial ESG sustainability performance in creating
shared value for all stakeholders.Business sustainability has
become economic and strategic imperative with potential to create
opportunities and risks for businesses. There have been
considerable efforts by regulators and business organizations to
encourage the board of directors and management to pursue
profit-with-purpose goals in by focusing on long-term investment
and integrating environmental, social and governance (ESG)
sustainability into their strategic and investment decisions. The
concept of impact investing, of focusing on the importance and
relevance of corporate investment strategies in achieving financial
economic sustainability performance (ESP) in creating returns on
investment and in obtaining non-financial ESG sustainability
performance of providing positive social and environment impacts,
is gaining acceptance by retail and institutional investors.
Positive effects on the environment and society cannot be achieved
without allocating scarce resources that could otherwise be used to
maximize firms' financial economic performance. The role of the
board of directors is to oversee the managerial function of
focusing on the long-term financial ESP and non-financial ESG
sustainability performance, effectively communicating
sustainability performance information to all stakeholders. This
book examines the crucial role of investors both retail and
institutional investors and interment managers, the corporate board
of directors and management in collaborating to achieve financial
ESP and nonfinancial ESG sustainability performance in creating
shared value for all stakeholders. This book also highlights how
people, business and resources collaborate in achieving
sustainability performance of creating shared value for all
stakeholders. Anyone who is involved with business sustainability
and corporate governance will be interested in this book.
Corporations are expanding their performance to both financial
economic performance (ESP) and non-financial environmental,
ethical, social and governance (EESG) sustainability performance to
effectively achieve their objective of creating shared value for
all stakeholders. Companies are now adopting the mission of
profit-with purpose by shifting their goals to create shareholder
value while fulfilling their social, environmental and governance
responsibilities. Management play an important role in pursuing the
mission of profit-with purpose and in integrating business
sustainability into corporate culture, business environment and
strategic plans and decisions. Corporations can create a right
balance between the wealth-maximization for shareholders under the
shareholder primacy concept while achieving the
welfare-maximization for all stakeholders under the stakeholder
primacy concept. The global move toward the adoption of benefit
corporations and profit-with-purpose companies is inevitable as
sustainability initiatives are being integrated into corporate
strategies, supply chain, decisions, actions, and performance.
Business Sustainability: Profit-with-Purpose Focus consists of four
chapters covering all aspects of business sustainability with a
keen focus on the concept of profit-with purpose. Anyone who is
involved with business sustainability and corporate governance, the
financial reporting process, investment decisions, legal and
financial advising, audit functions, and corporate governance
education will be interested in this book. Specifically,
corporations, their executives and the boards of directors,
internal and external auditors, accountants, lawyers, lawmakers,
regulators, standard-setters, investors, business schools, and
other professionals will benefit from this book.
Business Sustainability Factors of Performance, Risk, and
Disclosure examines sustainability factors of performance, risk and
disclosure. The five dimensions of sustainability performance are
economic, governance, social, ethical, and environmental
(EGSEE).Business sustainability is advancing from the greenwashing
and branding to, very recently, business imperative as shareholders
demand, regulators require, and companies report their
sustainability performance. Sustainability has become economic and
strategic imperative with potential to create opportunities and
risks for businesses. Business Sustainability Factors of
Performance, Risk, and Disclosure examines sustainability factors
of performance, risk and disclosure. The five dimensions of
sustainability performance are economic, governance, social,
ethical, and environmental (EGSEE). Sustainability risks are
reputational, strategic, operational, compliance, and financial
(RSOCF). Sustainability disclosures are relevant to financial
economic sustainability performance (ESP) and non-financial
environmental, social, and governance (ESG) sustainability
performance with ethics are integrated into all other components of
sustainability performance. This book offers guidance for proper
measurement, recognition, and reporting of all five EGSEE
dimensions of sustainability performance. It also highlights how
people, business, and resources collaborate in a business
sustainability and accountability model in creating shared value
for all stakeholders. The three sustainability factors of
performance, risk and disclosure are driven from the stakeholder
primacy concept with the mission of profit-with-purpose. Anyone who
is involved with business sustainability and corporate governance,
the financial reporting process, investment decisions, legal and
financial advising, and audit functions will benefit from this
book.
Forensic accounting is gaining considerable attention as a
rewarding and exciting field of accounting. Forensic accountants
perform both fraud and non-fraud services. The American Institute
of Certified Public Accountants (AICPA) released its proposed new
standards for its members who perform investigation and litigation
forensic accounting services in December 2018. This second volume
addresses fraud and non-fraud forensic accounting practice and
performance. The author discusses forensic accounting roles and
processes; forensic accounting techniques roles and
responsibilities of corporate gatekeepers, including forensic
accountants in creating a corporate culture of integrity and
competency in preventing and discovering financial statement fraud.
Also presented are challenges and opportunities in forensic
accounting, and emerging issues in fraud investigation.
The existence and persistence of high profile alleged financial
statement fraud (FSF) have negatively affected the safety and
soundness of financial markets and investors confident in public
financial information. Forensic accounting has advanced as an
important and rewarding field of accounting to prevent, detect, and
correct FSF. There has been significant demand for and interest in
forensic accounting as well substantial growth in both
investigation and litigation services. The first volume addresses
the relevance and importance of forensic accounting and fraud
examination as well as the framework and structure of forensic
accounting practices. The author presents an introduction to
forensic accounting and financial statement fraud examination and
their relevance and importance to businesses, financial markets,
economies and society. Also discussed is forensic accounting
opportunities, skills, and services; forensic accounting
profession; and professional responsibilities and codes of conduct
for forensic accountants. Finally, forensic accounting best
practices, education, and research are touched on.
Corporate governance has evolved as a central issue for public
companies in the aftermath of the 2007-2009 global financial
crisis. Corporate governance is a process (journey) of managing
corporate affairs to create shareholder value and protect interests
of other stakeholders. This book presents a road map for various
functions and measures of corporate governance. The participants in
the corporate governance process are the board of directors,
executives, stakeholders, internal and external auditors, financial
analysts, legal counsel, and regulators. This book is organized
into four separate volumes; each volume can be utilized separately
or in an integrated form. The first volume consists of five
chapters that address the relevance and importance of corporate
governance as well as the framework and structure of corporate
governance. The second volume consists of four chapters that
present the three prevailing corporate governance functions of
oversight, management, and monitoring. The third volume consists of
four chapters that address corporate governance functions performed
by corporate gatekeepers, including policy makers, regulators,
standard-setters, internal auditors, external auditors, legal
counsel, and financial advisors. The fourth volume consists of five
chapters that address the emerging issues in corporate governance,
including governance for private companies and nonprofit
organizations and convergence in global corporate governance.
Corporate governance has evolved as a central issue for public
companies in the aftermath of the 2007-2009 global financial
crisis. Corporate governance is a process (journey) of managing
corporate affairs to create shareholder value and protect interests
of other stakeholders. This book presents a road map for various
functions and measures of corporate governance. The participants in
the corporate governance process are the board of directors,
executives, stakeholders, internal and external auditors, financial
analysts, legal counsel, and regulators. This book is organized
into four separate volumes; each volume can be utilized separately
or in an integrated form. The first volume consists of five
chapters that address the relevance and importance of corporate
governance as well as the framework and structure of corporate
governance. The second volume consists of four chapters that
present the three prevailing corporate governance functions of
oversight, management, and monitoring. The third volume consists of
four chapters that address corporate governance functions performed
by corporate gatekeepers, including policy makers, regulators,
standard-setters, internal auditors, external auditors, legal
counsel, and financial advisors. The fourth volume consists of five
chapters that address the emerging issues in corporate governance,
including governance for private companies and nonprofit
organizations and convergence in global corporate governance.
The 2007-2009 global financial crises have eroded the public
confidence in corporate governance and the financial reporting
process. Policymakers, regulators and the business community have
responded by taking proper initiatives to prevent further
occurrences of financial crises. Restoring the public confidence
requires a significant coordinated effort, regulatory measures and
best practices by policymakers, regulators, business organizations
and the accounting profession. One of the key provisions of these
regulatory reforms, which seek to restore public confidence, is
that a properly constituted and functioning audit committee can
improve the quality of financial reporting by acting as an
effective arbitrator in management and auditor disputes. Thus, this
book addresses the audit committee attributes as an integral part
of corporate governance to improve quality, reliability, and
transparency of financial reports and credibility and effectiveness
of the related audit functions. This book presents the roles,
responsibilities, structure, composition, qualification, authority,
resources and other attributes of the audit committee in accordance
with the most recent regulatory requirements and best practices.
In today's business environment, global businesses are under close
scrutiny and profound pressures from lawmakers, regulators, the
investment community, and their diverse stakeholders to accept
accountability and responsibilities for their corporate governance
effectiveness. Corporate governance is a process (journey) of
managing corporate affairs to create shareholder value and protect
interests of other stakeholders. The landscape of corporate
governance has significantly changed in recent years and there is a
need for a good book presenting roles and responsibilities of
corporate governance participants including directors, officers,
stakeholders and corporate gatekeepers. Effective corporate
governance should develop a right balance between the achievement
of short-term targets and long-term sustainable performance. To
effectively fulfill their fiduciary duties, corporate governance
participants should lead from the front and by example and manage
instability in hypercompetitive and global environments. This
timely and relevant book describes the practice of good governance
in the aftermath of recent global crisis with a keen focus on
internal and external corporate governance mechanisms to address
future global challenges.
The audit committee has gained considerable attention in the
aftermath of 2007-2009 global financial crisis. The audit
committee's role has evolved from a voluntary liaison between
management and external auditors to the standing committee of the
board of directors in overseeing all aspects of corporate
governance, financial reporting, internal controls, risk
assessment, and audit activities. This book addresses the
determinants of audit committee oversight effectiveness, including
their composition, independence, authority, resources, diligence,
and activities. The book is organized into three separate volumes
and each volume can be utilized separately or in an integrated
form. The first volume consists of five chapters, which examine the
relevance and fundamentals of the audit committees as well as the
determinants of audit committee effectiveness. The second volume
consists of nine chapters on financial, auditing, internal control,
risk management, ethics and compliance, antifraud, and other
oversight functions of the audit committee. The third volume
consists of five chapters on the emerging issues of audit
committees pertaining to evaluation, education, reporting, and
accountability as well as audit committees of private companies,
governmental entities and not-for-profit organizations.
The audit committee has gained considerable attention in the
aftermath of 2007-2009 global financial crisis. The audit
committee's role has evolved from a voluntary liaison between
management and external auditors to the standing committee of the
board of directors in overseeing all aspects of corporate
governance, financial reporting, internal controls, risk
assessment, and audit activities. This book addresses the
determinants of audit committee oversight effectiveness, including
their composition, independence, authority, resources, diligence,
and activities. The book is organized into three separate volumes
and each volume can be utilized separately or in an integrated
form. The first volume consists of five chapters, which examine the
relevance and fundamentals of the audit committees as well as the
determinants of audit committee effectiveness. The second volume
consists of nine chapters on financial, auditing, internal control,
risk management, ethics and compliance, antifraud, and other
oversight functions of the audit committee. The third volume
consists of five chapters on the emerging issues of audit
committees pertaining to evaluation, education, reporting, and
accountability as well as audit committees of private companies,
governmental entities and not-for-profit organizations.
The audit committee has gained considerable attention in the
aftermath of 2007-2009 global financial crisis. The audit
committee's role has evolved from a voluntary liaison between
management and external auditors to the standing committee of the
board of directors in overseeing all aspects of corporate
governance, financial reporting, internal controls, risk
assessment, and audit activities. This book addresses the
determinants of audit committee oversight effectiveness, including
their composition, independence, authority, resources, diligence,
and activities. The book is organized into three separate volumes
and each volume can be utilized separately or in an integrated
form. The first volume consists of five chapters, which examine the
relevance and fundamentals of the audit committees as well as the
determinants of audit committee effectiveness. The second volume
consists of nine chapters on financial, auditing, internal control,
risk management, ethics and compliance, antifraud, and other
oversight functions of the audit committee. The third volume
consists of five chapters on the emerging issues of audit
committees pertaining to evaluation, education, reporting, and
accountability as well as audit committees of private companies,
governmental entities and not-for-profit organizations.
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