This means that it is very important for firms to be transparent about the methods used to estimate values and about the range of possible values around these estimates. Let me now say just a few words about the importance of transparency in governmentsponsored institutions, whether domestic or international.
I will begin with a few words about sovereign wealth funds, which control increasingly large amounts of money and are significant global financial forces. Some of these funds, such as the public pension funds in Canada, already adhere to very high standards of transparency. But in other cases, there is often insufficient transparency in the operation of these funds.