Center for Financial Reporting and Auditing (CFRA)
As a consequence of the financial turmoil over the last decade, increasing global capital flows, and the increasing reliance on financing through the equity and debt markets, financial reporting and auditing face enhanced regulatory and political scrutiny on both the national and the international level.
In recent years, research has also become increasingly important for activities in the capital markets generally, and financial reporting and auditing are no exceptions. At the same time, academic research is getting more specialized, and many feel that the gap between academic research and practice has widened. We see it as our objective to narrow this gap. Specifically, the ESMT Center for Financial Reporting and Auditing intends to:
Stimulate high quality research on issues in financial reporting and auditing, with special focus on questions of practical and policy relevance.
Disseminate research results (both our own and others) through publications, seminars, and other forms of meetings.
Establish a channel of communication between the academic world and practice about research issues in financial reporting and auditing. This also involves issues that are important for standard setting and other regulatory activities, at the German level, at the EU level, and at the global level.
Have a truly international reach, both in terms of academic research and practical issues. We believe this is important as the standard setting processes and other regulatory activities are increasingly done at an international level, and many companies raise capital in global capital markets.