issue affect independence of the auditors and the firms, but it also undermines the efficacy of the firms’ client acceptance and continuance process. The SEC believes that it is important that the audit

set out clear definition of related parties. Not only does this issue affect independence of the auditors and the firms, but it also undermines the efficacy of the firms’ client acceptance and

Investor Strategies for Incorporating ESG Considerations into Corporate Interactions www.blackrock.com www.ceres.org Century21st Engagement Investor Strategies for Incorporating ESG Considerations into Corporate Interactions [ 5 ] FOREWORD The Value of Our Voice ......................................................................................................................................... 1 How ESG Megatrends Are Shaping Valuation ...........................................................