Financial reporting : from shadows to limelight Bocconi University , Milan , 13-14 June 2002

Abstract

Well, now we know differently. Scorekeepers may or may not have a material influence on the outcome of sporting events. But financial reporting can certainly have a major effect on the way the economic game is played. In the light of recent events, it is hard to dispute that high quality financial reporting is essential for the efficiency and stability of the financial systems. It is the cornerstone on which market discipline a key theme of this conference rests. But it is a subject that has regrettably not commanded the attention it deserves among researchers on financial stability.