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Profit-with-purpose Concept Of Shareholder Primacy Versus Stakeholder Primacy

  • ACCT/BK
  • CPA (CA)
  • CMA
  • CPA (US)
  • CVA
  • CA - ICAEW
  • CFA
  • ChFC
  • ACCA
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CBA/MCBA
  • CA - Ireland
  • CA - Scotland
  • CPA - Ireland
  • CFIRS
  • CWS

Published: August, 2021

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  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Important Terms
    6 mins
  • Business Sustainability Framework
    12 mins
  • The Role of Responsibility
    27 mins
  • Stakeholder Primacy
    36 mins
  • Sustainability Standards
    50 mins

Course Description

The main objective of business organizations has evolved from profit maximization to increasing shareholder wealth. In recent years, this objective has changed considering the recent developments in corporate governance and business sustainability to create shared value for all stakeholders. 

To effectively achieve this new objective, corporations are expanding their performance to both financial/quantitative economic performance (ESP) and non-financial/qualitative environmental, ethical, social, and governance (EESG) sustainability performance. Sustainability has become an economic and strategic imperative with the potential to create opportunities and risks for businesses. Companies are now adopting the corporate mission of profit with the purpose of creating shared value for all stakeholders by shifting their goals to create shareholder value while fulfilling their social, environmental, and governance responsibilities. 

Key topics:

  • Management’s role in integrating business sustainability into corporate culture, business environment, and strategic plans and decisions. 
  • Ways to promote shared value creation for all stakeholders.  
  • Creating the right balance between the wealth-maximization for shareholders and welfare maximization for all stakeholders
  • The global move toward the adoption of benefit corporations and profit-with-purpose companies 
  • Sustainability performance, reporting, and assurance 

In this CPE webinar join Dr. Zabihollah (Zabi) Rezaee, noted teacher, researcher, industry consultant, auditor, and author, as he offers guidance on understanding the requirements for and best practices of profit-with-purpose in the context of shareholder and stakeholder primacy.

Click to access more CPE/CE webinars on Trust and Financial Planning | Tax Resolution CE webinars | Sales and Use Tax CPE/CE Courses

Learning Objectives

  • To present the concept of profit-with-purpose in promoting shared value creation for all stakeholders.
  • To examine four themes of corporate sustainability including: the focus on stakeholder aspect, the main objective function of creating shared value for all stakeholders, multidimensional, and time horizons.
  • To discuss management role in integrating sustainability performance and reporting into corporate culture, business environment, strategic decisions and corporate reporting.
  • To explore business sustainability performance, reporting and assurance.
  • To present implications of sustainability worldwide and particularly.

Recommended For

  • This Online Continuing Professional Education webinar on Finance is recommended for CPAs, CMAs, CFAs, and Other Professionals who desires to support their clients with better understanding the requirements for profit-with-purpose in the context of shareholder and stakeholder primacy
  • This Online Continuing Education Webinar is also recommended for CPAs in Canada who desires to support their clients with better understanding of best practices of profit-with-purpose in the context of shareholder and shareholder primacy

Who Should Attend?

  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 CPD Credit for Chartered Professional Accountant (CPA Canada)
  • 1 PL Credit for Chartered Financial Analyst (CFA)
  • 1 CPE Credit of Finance for Certified Public Accountants (CPA-US)
  • 1 CPE Credit for Certified Management Accountants (CMA)
  • 1 CPE Credit for Certified Valuation Analyst (CVA)
  • 1 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit for Accountant/Bookkeeper (ACCT./BK)
  • 1 CPD Credit for Chartered Accountants - ICAEW
  • 1 CPD Credit for Chartered Certified Accountants (ACCA)
  • 1 CPD Credit for Chartered Accountants - Ireland (CAI)
  • 1 CPD Credit for Chartered Accountants - Scotland
  • 1 CPD Credit for CPA - Ireland
  • 1 CPE Credit for Chartered Financial Consultant (ChFC)
  • 1 CPE Credit for Financial Services Certified Professional (FSCP)
  • 1 CPE Credit for Chartered Advisor in Senior Living (CASL)
  • 1 CPE Credit for Chartered Special Needs Consultant (ChSNC)
  • 1 CPE Credit for Retirement Income Certified Professional (RICP)
  • 1 CPE Credit for Wealth Management Certified Professional (WMCP)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Zabihollah Rezaee

Professor, The University of Memphis

Zabihollah (Zabi) Rezaee. Dr. Rezaee is the Thompson-Hill Chair of Excellence, and Professor of Accountancy at the University of Memphis and served a two-year term on the Standing Advisory Group (SAG) of the Public Company Accounting Oversight Board (PCAOB). He received his BS degree from the Iranian Institute of Advanced Accounting, his MBA from Tarleton State University in Texas, and his PhD from the University of Mississippi. Dr. Rezaee holds ten certifications, including Certified Public Accountant (CPA), Certified Fraud Examiner (CFE), Certified Management Accountant (CMA), Certified Internal Auditor (CIA), Certified Government Financial Manager (CGFM), Certified Sarbanes-Oxley Professional (CSOXP), Certified Corporate Governance Professional (CGOVP), Certified Governance Risk Compliance Professional (CGRCP), Chartered Global Management Accountant (CGMA) and Certification in Risk Management Assurance (CRMA). He served as the 2012-2014 secretary of the Forensic & Investigative Accounting (FIA) Section of the American Accounting Association (AAA) and is currently the editor of the Journal of Forensic Accounting Research (JFAR) of the AAA.

Professor Rezaee has published over 250 articles in accounting and business journals and made more than 300 presentations. He has also published 12 books: Financial Institutions, Valuations, Mergers, and Acquisitions: The Fair Value Approach; Financial Statement Fraud: Prevention and Detection; U.S. Master Auditing Guide (3rd edition); Audit Committee Oversight Effectiveness Post-Sarbanes-Oxley Act; Corporate Governance Post-Sarbanes-Oxley: Regulations, Requirements, and Integrated Processes;  Corporate Governance and Business Ethics and Financial Services Firms: Governance, Regulations, Valuations, Mergers and Acquisitions; and has contributed to several other books. Several of these books are translated into other languages including Chinese, South Korean, Spanish, and Iranian.  His book entitled Corporate Sustainability: Integrating Performance and Reporting, published in November 2012, won the 2013 Axiom Gold Award in the category of Business Ethics. Another book, Business Sustainability: Performance, Compliance, Accountability, and Integrated Reporting, was published by Greenleaf Publishing in October 2015. His most recent books are Business Sustainability, Corporate Governance, Organizational Ethics (Textbook).  John Wiley, &Sons, October 2019, Forensic Accounting and Financial Statement Fraud, Business Expert Press, April 2019, Business Sustainability in Asia: Compliance, Performance, and Integrated Reporting and Assurance, John Wiley, March 2019, Corporate Governance in the Aftermath of the Global Financial Crisis, in four volumes, published by Business Expert Press in March 2018, and  Audit Committee Formation in the Aftermath of the 2007–2009 Global Financial Crisis, in three volumes published by Business Expert Press in July 2016.

About Company

The University of Memphis

www.memphis.edu/

At the University of Memphis, we are Driven by Doing. Driven by Doing isn't just a slogan. It's what you'll see happening all around you at the UofM. Every. Single. Day. We've had a lot of firsts here in Memphis. But our most memorable years are yet to come. We are all about forward progress. Yours. That's what Memphis does.

For over 100 years, the UofM has been a catalyst for progress in the city of Memphis, the state of Tennessee and the surrounding Mid-South region. From its inception in 1912 as a “normal school” dedicated to the education of public school teachers to its role today as an educator of technologically savvy, socially conscious graduates who face a complex world, the UofM has always been an integral component of the greater community.

Exceptional students from 50 states and 82 countries choose the University of Memphis as their collegiate home. Approximately 22,000 students attend the UofM, including more than 2,200 first-time freshmen and 2,500 students who live in university housing.

In 2013, U.S. News & World Report ranked the University of Memphis among the top 10 in the country for student internship placements and lauded it as one of the top 13 for its teacher preparation programs. Additionally, its graduate programs in audiology, speech-language pathology and rehabilitation counseling are consistently ranked among the top 20 in the nation by U.S. News.

As a doctoral-granting metropolitan research university, the UofM is committed to excellence in undergraduate, graduate and professional education; in the discovery and dissemination of knowledge; in engaged scholarship to the community, state and nation; and in the preparation of a diverse student population for successful careers and meaningful participation in a global society.

Ever forward looking, the University of Memphis is poised to enter one of its most historic and productive periods. Having just celebrated its centennial anniversary, its faculty, staff, alumnus.


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