RiskMetrics to Acquire CFRA

RiskMetrics, a global risk management and consulting concern, agreed to acquire the Center for Financial Research & Analysis, a forensics accounting firm. Terms were not disclosed. RiskMetrics said it planned to merge CFRA with its Institutional Investor Services unit, which grades corporate governance and advises investors. CFRA was founded by former American University professor Howard Schilit in 1994. Schilit, once dubbed as "the Sherlock Holmes of Accounting," sold his stake in the firm in 2003.