1  Julia Coronado and Steve Sharpe, “Did Pension Accounting Contribute to a Stock Market Bubble?” Brookings Papers on Economic Activity, July 2003.
2  BIS Review 24/2004  In general, the test for useful disclosure should be the following questions: Are the firm and its accountants providing investors with what is needed to accurately evaluate the financial position of the firm and the risks that it faces? And is the information provided in a manner that facilitates accurate assessments by investors?