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Center for Financial Reporting and Auditing



Phone: +49 30 21231 1286


Accounting and finance research that matters and moves with time


The Center for Financial Reporting and Auditing (CFRA) aims to provide an effective contribution to scientific research and practice-oriented, pragmatic transfer of knowledge on financial reporting and auditing, as well as financial management more generally. We serve as a platform for evidence-based exchange between science, practice, and politics in light of enhanced regulatory and political scrutiny on national and international levels.

The CFRA designs and engages in activities to strengthen the dialogue between academics and practitioners and to make highly complex business and finance research (our own and others) more accessible to the broader public. Questions of standard setting and regulation in financial reporting, auditing, and the role of various forms of disclosures in capital markets are explored in publications, conferences, seminars, and international networks. CFRA programming is internationally oriented to examine the increasingly global regulation in these areas.

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CFRA Imagery: Right on the money
CFRA Network

TRR 266 Accounting for Transparency

A trans-regional Collaborative Research Center funded by the German Research Foundation (DFG)
CFRA blog

Right on the money

How do venture capitalists make decisions? What impacts financial reporting quality? Visit our research digest for answers to most current finance related questions!
Research activities and collaborations


To see the latest research by the CFRA academics, visit their profiles:


Per Olsson

Joachim Gassen

Maximilian Müller

Katja Kisseleva


Degree courses:

  • Financial accounting and performance measurement (MBA program)
  • Entrepreneurial finance and valuation (MBA program)
  • Financial accounting and decision making (MIM program)
  • Valuation and financial analysis (MIM program)

Special programs:

  • Sustainability finance modules for several ESMT courses
  • Accounting and finance seminar series (ongoing)
  • Blended learning courses in accounting and financial analysis
  • Startup Financing, Valuation, and Venture Capital (part of MIM and MBA Global Network Weeks at ESMT Berlin since 2018)


Our academic networks serve to strengthen the bond between financial theory and practice:


Berlin Accounting Research Group


TRR 266 Accounting for Transparency

Our founders
Contact CFRA

For all questions, write to us at